Sterling Software Inc saw its revenues and operating profits rocket in the third quarter as the Dallas-based applications developer reported strong results across all of its business units. Third quarter net profits rose to $29.7m from last year’s acquisition related losses of $186m but operating profits also rose sharply, up 113% over the prior year. Total revenues were up 41% to $162m in the quarter and up 48% to $470m for the year to date. We had a superb quarter said CEO Sterling Williams. The shares closed up 1.2% at $26.38. Sterling also closed its $79m acquisition of fellow applications developer Synon Corp on Monday. The purchase agreement was originally signed in June.
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