Sterling Software Inc, the Dallas applications and systems management company that recently purchased Texas Instruments Inc’s software business for $165m (CI No 3,145), reported second- quarter results in line with expectations. Net income from continuing operations rose 20% to $15.3m on revenue that was essentially flat at $106.7m. Earnings per share rose 3% to $0.40, matching the First Call consensus. Midterm net income increased 29% to $28.1m on revenue up 1% at $203.9m. Earning per share for the six months rose 6% to $0.72. Figures do not include a gain of $127.2m in the year-ago quarter from the initial public offering of Sterling Commerce Inc, which was spun off in September of last year.
