Wind River Systems
grew third-quarter revenue by 13% and doubled its earnings per share.
Deferred revenue, a key metric now that the embedded software maker is moving to a subscription model, was up 51% year over year to $87.8 million, the company said Tuesday.
Wind River posted a profit of $5.7 million, or 6 cents a diluted share, compared with $2.3 million, or 3 cents a share a year ago. Total revenue was $67.6 million, which was in line with analysts' estimates, according to Thomson First Call.
Excluding items, the company earned a profit of 8 cents a share, a penny better than Wall Street was expecting.
Cash flow from operations on a GAAP basis was $16.3 million.
Looking to the fourth fiscal quarter of 2006, the company expects total revenue to range from $72 million to $74 million. EPS will range from 11 cents to 12 cents. Analysts were forecasting a 12-cent profit on sales of just over $74 million.
For the full year, Wind River expects to earn a non-GAAP profit of 29 cents to 30 cents profit on sales of $270 million.
Wind River produces software that is embedded in the operation of electronics used in the aerospace/defense, automotive, communications, consumer and industrial sectors.
In recent after-hours trading, shares were off 65 cents, or 4.6%, to $13.50 after closing the regular session up 38 cents to $14.15.