Datawatch, a provider of Business Intelligence offerings, has reported revenue of $4.6bn for the third quarter of 2010, a decrease of 4%compared to $4.8bn for the same period last year.
Revenue from software licenses and subscriptions were $2.5bn for the third quarter of 2010, a decrease of 3.8% compared to $2.6bn for the same period last year, while maintenance and services revenue decrease by 4.5% to $2.1bn.
For the third quarter ended June 30, 2010, the company posted net income of $222.0m, a decrease of 19% compared to a net income of $275.0m for the same quarter a year ago. Net income per diluted share was down by 20% to $0.04 from $0.05 per share for year ago quarter.
Datawatch president and CEO Ken Bero said that income from operations was solidly in the black, a welcome turnaround from the previous two quarters, and the company’s operating performance resulted from the relative stabilisation of revenues compared to Q2 combined with continued expense management.
"We achieved solid enterprise software sales with several large deals coming from our European operations, while sales of our desktop BI products were slightly lower as compared to the previous quarter," Bero said.
"However, maintenance revenue was strong demonstrating that even in these difficult times our customers are continuing to find tremendous value in their Datawatch solutions.
"While operations posted a strong showing for the quarter, net income was negatively impacted by currency losses resulting from the translation of Euro based assets into the functional currency of our subsidiaries in the UK, the British Pound."
