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April 17, 1997updated 05 Sep 2016 12:38pm

HYPERION SOFTWARE CORP REPORTS Q3, DEAL WITH BAAN

By CBR Staff Writer

Hyperion Software Corp, Stamford, Connecticut maker of financial management software, reported third quarter results that just edged out analysts’ expectations. Net income for the quarter was $1.3m, or $0.07 per share, on revenue up 37% at $50.5m, compared to net income of $369,000 for the corresponding quarter last year. For the year-to-date, net income is up 46% at $5.9m, on revenue up 31% at $149.2m. Earnings per share have risen 39% to $0.32. Hyperion also announced Wednesday a joint development and marketing deal with Dutch software firm The Baan Co which will allow them to market Baan’s multinational accounting software. The deal, which leverages the two companies’ lines of financial products, will result in a fourth-quarter charge for Hyperion of roughly $4m for asset valuation and restructuring costs.

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