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April 23, 2009

Autonomy manages to search out profit in tough economy

Doubles net profits on record revenues up 23%

By CBR Staff Writer

Regulatory obligations and higher compliance levels are helping drive the market for content management and search software, market leader Autonomy plc confirmed today as it posted strong results and record revenues, up 23% from the year-ago period.

Revenues for the first quarter of 2009 totalled $129.8 million, better than the $105.1 million for the first quarter of 2008. 

Those numbers produced net profit for the quarter of $40.2 million, which was almost twice the $21.7 million for the same period a year ago.

The company said its cash balances were $132.3 million at the end of March, a decrease of $66.9 million from the prior quarter, partly as a result of the Interwoven acquisition it closed in March. 

CEO Mike Lynch said, “The integration of Interwoven is progressing ahead of our plans. We have made a number of key announcements in these areas over the past few weeks.”

Notably, the company has produced a new way for businesses to check that the way they handle sensitive personal identifiable data in email, chat or audio interactions between customers and agents complies with their security policies and with industry regulations.

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The Cambridge-based search company launched the Autonomy Interaction Control Element or ICE product line out of its eTalk customer interaction analytics arm.

Last month it fitted its core analytics engine into the WorkSite document management system it acquired with Interwoven. 

The company said it had also completed the integration of its IDOL (intelligent data operating layer) analytics system into Interwoven Teamsite and iManage Universal Search product lines.

Analyst house TechMarketView reported today that Autonomy has been one of the most consistent stock performers in the FTSE-listed software and service segment “showing substantial share price gains over 3, 12, 36 and 60 months.” 

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