Spend-management software vendor Ariba has reported total revenues of $90.4m for the first quarter of fiscal 2011,compared to $75.2m in the year-ago quarter.
It made an operating income of $3.9m compared to an operating income of $0.79m in the same period last year.
Net income for the first quarter was $42.1m which includes gain on sale of discontinued operations of $38.7m, compared to net income of $2.2m in the last year quarter.
Subscription and maintenance revenue were $65.9m, compared to $58.4m in the previous year quarter and services and other revenue increased to $24.6m from $16.8m for the same quarter last year.
Ariba chairman and CEO Bob Calderoni said the company sees momentum accelerating with their cloud-based collaborative commerce offerings as companies around the world increasingly seek ways to become more connected, efficient and informed.
"We also made a number of strategic moves, including the acquisition of Quadrem, which will allow us to expand the depth and breadth of our network-based offerings and further accelerate our growth," Calderoni said.
