The Ottawa-based business intelligence (BI) vendor reported revenues up 15% for the quarter to $173.6m. The company’s newer Enterprise Planning and ReportNet products pushed license revenue up to $66.1m from $57.8m last year.
Cognos expects a powerful product cycle over the next 18 months from ReportNet, its new enterprise reporting offering rolled out late last year. Net profits for the quarter stood at $20.1m ($0,22 per share), up from the year-earlier profit of $12.4m.
According to Reuters Estimates, the results exceeded top- and bottom-line analyst expectations of $0.20 per share and $171.3m revenue. Cognos’ bottom line got a boost from a slightly weaker Canadian dollar.
Buoyed by bullish estimates for fiscal 2005, Cognos closed at $33.01, up 62 cents, yesterday. The stock rose by a further 18 cents in after-hours trading.
Significantly, the results coincide with the formal handover of the CEO mantle to Rob Ashe. Earlier this year Ron Zambonini announced his decision to step down after a long stint as CEO.
Cognos is hosting its annual user conference next week in Orlando, Florida.
