Quest Software has reported total revenues of $220.4m for the third quarter ended 30 September 2011, up 14.2% compared to the prior year’s third quarter revenues of $193m.
The company’s generally accepted accounting principles (GAAP) operating margins were 13.6% in the third quarter as compared to 16.9% for the same quarter previous year, while on a non-GAAP basis operating margins was 22.4% for the third quarter.
On a GAAP basis, net income for the third quarter of 2011 was $21.5m, or $0.25 per fully diluted share, compared to net income of $28.5m, or $0.31 per share on a fully diluted basis, for the third quarter of 2010.
On a non-GAAP basis, net income for the third quarter of 2011 was $35.3m, or $0.41 per fully diluted share, compared to net income of $36.7m, or $0.39 per share on a fully diluted basis, for the third quarter of 2010.
The non-GAAP operating margin was 22.4% in the third quarter of 2011, resulting in non-GAAP operating income of $49.4m, compared to non-GAAP operating margin and operating income of 24.5% and $47.4m, respectively, for the corresponding period in 2010.
Cash and investments totalled $256.7m in the third quarter, a decrease of $24.4m over the previous quarter, which was primarily due to stock repurchases of $46.8m during the quarter.
Quest Software president and CEO Doug Garn said overall, this was a solid quarter for us on balance.
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"Our primary focus as we close out this year is to ensure that we execute well going into 2012 and continue to deliver tangible value to our customers," Garn said.
