Business Intelligence software house Information Advantage Inc reported fourth-quarter net income of $1.9m on revenue up 35.8% at $20.1m. Earnings per share for the quarter were $0.07, in line with the First Call consensus. In the year-ago period, the company saw net income of $374,000, or $0.02 per share. Operating income of $2.8m showed 118% growth sequentially.
In the quarter, license revenue of $12.7m rose 44% year-over- year, showing significantly faster growth than service revenue, which increased 23%, but only 2% sequentially. The company attributed the relative slowness to the displacement of consulting resources in order to gain reseller and partner relationships. The result was a license-service revenue mix of 63%/37%, when many analysts were expecting a 60/40 mix. For the full year, net income was $6.7m on revenue up 40.6% at $70.7m, against a loss of $4.5m last year. Earnings per share were $0.25. Full-year results include merger-related charges of $6.5m.
