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BEA Systems Beats Top-Line Estimates

But quarterly profit falls from a year ago.
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BEA Systems


came in at the high end of its fourth-quarter earnings and sales guidance, and grew license revenue -- a onetime problem area -- by 18% year over year.

The middleware vendor said total revenue came in at $341.4 million, an increase of 17% over last year. But BEA's profit fell to $35.4 million, or 9 cents a share, from $41.6 million, or 10 cents a share. Net income in the latest quarter was reduced by 2 cents a share by a tax charge related to repatriated earnings.

Without the charge, BEA earned $48.7 million, or 12 cents a share.

Earlier this month the company said it expected a profit of 11 or 12 cents a share on revenue ranging from $335 million to $340 million.

Analysts were expecting a profit of 11 cents a share on sales of $329.8 million. However, it appeared that the estimates for revenue did not reflect the higher guidance BEA issue on Feb. 2.

License revenue was up 18% to $155.9 million, and services revenue was up 17% to $185.6 million.

BEA generated fourth-quarter cash flow from operations of $101.6 million, up 39% from $73 million a year ago.

BEA's shares gained more than 4% ahead of Thursday's postclose announcement and in after-hours trading on Instinet were up an additional 3 cents to $10.90.