handily beat Wall Street's fourth-quarter earnings estimates as management continued to cut costs.
Revenue in the quarter increased a meager 3% year over year to $408 million, but income increased by 300% to $66 million, or 31 cents a share, the company reported Wednesday.
Excluding various items, BMC posted a profit of $76 million, or 35 cents a share. Analysts polled by Thomson First Call were looking for a profit of 29 cents a share on revenue of $400.4 million.
In March, the Houston-based company told investors to expect a fourth-quarter profit ranging from 26 cents to 31 cents a share, on revenue ranging from $390 million to $410 million.
Non-GAAP operating expenses in the quarter dropped by 12%, or $46 million, to $337 million. The company said it met its goal of $100 million in annual cost savings during the fiscal year.
License bookings in the quarter dropped by 11% to $173 million.
Looking to the current, or first quarter, the company said it expects non-GAAP EPS to range from 22 cents to 27 cents, on sales ranging from $355 million to $370 million.
Analysts were forecasting a 26-cent profit on sales of $365.7 million.
Shares were off 37 cents, or 1.7%, to $21.98 in recent after-hours trading.