Revenue growth would have been 34% excluding the negative effects of foreign exchange. Operating income grew 40% to $3,861,000 from $2,752,000 for the same period last year. Net income for the second quarter increased 34% to $2,731,000, or $0.18 per share, compared to $2,033,000, or $0.14 per share, in the same period a year ago.
Revenues for the six months ended March 31, 2001 increased 28% to $56,927,000 from $44,489,000 for the same period last year. Revenue growth would have been 32% excluding the negative effects of foreign exchange. Operating income for the six months grew 69% to $6,864,000 from $4,069,000 for the same period last year. Net income for the six months ended March 31, 2001 was up 59% to $4,835,000, or $0.31 per share, compared to $3,035,000, or $0.21 per share, in the same period a year ago.
Our performance this quarter was driven by healthy growth in our overseas markets. Notably, growth in Europe was particularly strong due to excellent sales execution combined with increased demand for MapInfo’s products and services from the telecommunications sector as carriers begin to plan and build next-generation networks, said Mark Cattini, president and CEO. In the Americas, although our business was affected by the economic slowdown, we saw a consistent level of repeat business from our installed base, especially from our long-standing enterprise customers.
SOURCE: COMPANY PRESS RELEASE
