Troubled software vendor
finally delivered a strong quarter, topping Wall Street's earnings and revenue estimates.
However, bookings and associated billings were lower than the company had expected.
The Islandia, N.Y., company earned a profit of $53 million, or 9 cents a share, in the second quarter, compared with $46 million, or 8 cents a share, in the same quarter last year.
Revenue rose 5% to $996 million from $950 million in the same period.
Excluding items, the company posted a profit of $145 million, or 25 cents a share. On that basis, analysts polled by Thomson First Call were looking for a profit of 20 cents a share on sales of $969.4 million.
Total product and services bookings in the second quarter were $690 million, down 10% from last year. "This decision is attributed to a decision to realign and restructure the sales force to achieve lower cost of sales and higher productivity and more discipline on contract renewals," the company said in its earnings release after the closing bell on Thursday.
CEO John Swainson said: "We believe the issues that affected our second quarter performance are behind us and we are confident in our ability to execute in the second half of our fiscal year."
Earlier in the day, former CEO Sanjay Kumar was
sentenced to 12 years in prison for his role in the $2.2 billion accounting scandal that shook the company.