Rogue Wave Software Inc, the Boulder, Colorado object-oriented software tools vendor, has reported third-quarter net income of $434,000 on revenue up 25.9% at $14m, compared to net income of $13,000 in the year-ago quarter. Earnings per share rose to $0.04 from break-even and to $0.06 from $0.04 excluding merger and other one-time charges of $384,000 and $580,000, respectively. The $0.06 in pro forma earnings matched the consensus estimate of analysts surveyed by First Call, but was a disappointment to the company. Longer sales cycle and product learning curve for the recently-launched Nouveau products, lower-than-expected European sales and NobleNet merger and integration distractions were cited as the primary factors affecting the quarter. Six-month net income rose 91.6% to $2.4m on revenue up 22.6% at $39.6m. Earnings per share rose 83.3% to $0.22. Six-month results include one-time charges of $486,000 and $1.8m for this year and last year, respectively.
