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November 2, 2010

MicroStrategy Q3 revenue up 11%

Operating income declined by 67% to $10m

By CBR Staff Writer

MicroStrategy, a provider of business intelligence software, has reported revenues of $115m for the third quarter of 2010, an increase of 11% compared to $104m for the same period last year.

The company has posted an operating income of $10m, compared to $30.4m for the same quarter last year. Operating expenses increased by 36% to $77.5m from $57.1m in the same period a year ago.

For the third quarter ended 30 September 2010, the company posted a net income of $7.4m, or $0.63 per share, compared to net income of $21.4m, or $1.73 per share for the third quarter of 2009.

Product licenses revenues decreased marginally to $32.2m from $34.4m, while product support and other services revenues increased by 18% to $78m from $66m in the third quarter of 2010.

MicroStrategy said during the third quarter of 2010 it had repurchased 510,733 shares of its class A common stock at an average price per share of $78.21 and an aggregate cost of $39.9m.

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