Wind River Systems Inc, the Alameda, California-based provider of software development tools for real-time embedded applications, has reported third quarter net profits up 50.6% at $5.2m on revenue up 44.6% at $16.9m; nine-month net rose 71.4% to $12.0m on revenue up 46.3% at $46.1m. Net earnings per share rose 50.0% to $0.18 in the quarter, up 59.3% to $0.43 in the nine months. Wind River Systems Inc has proved once again how easy it is to manage your figures while managing a buoyant business. The Alameda, California-based real time operating systems company, has for the seemingly umpteenth time, turned in quarterly figures which exceeded expectations by a couple of points. Third quarter net profits rose 50% to $0.18 per share, or $5.2m, on revenue up 44.6% at $16.9m. Ron Abelmann, President and CEO of Wind River summed up the situation by stating, These results represent the fifteenth consecutive quarter where the company has met or exceeded the financial markets expectations for both our revenue and earnings. Wind River seems to relish massaging its figures for quarterly consumption, pointedly rounding its revenues to the nearest million dollars to highlight the irrelevance of quarterly reporting to its long term plans. Product revenues rose by a purported 38% to $16.9m but the deferred revenue balance (where income not yet booked to the profit and loss account is tucked away on the balance sheet) rose by over 100%. Service revenues, which are far less ambiguous, rose by 64% to $7.1m in the same period. The stock market is now well used to Wind River’s rock steady earnings and the shares dipped slightly to $43 on this less than exciting news.
