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Informatica Q2 Adj Profit Meets View, But Revenues Miss; Shares Plunge 11%(dpa-AFX International Compact Via Acquire Media NewsEdge) WASHINGTON (dpa-AFX) - Data integration software provider Informatica Corp. (INFA) on Thursday reported a 26 percent increase in profit for the second quarter from last year, boosted by double-digit growth in software revenue. Adjusted earnings per share matched analysts' expectations, while quarterly revenues missed their estimates by a whisker. The company's shares gained nearly 11 percent in extended trades. Sohaib Abbasi, chairman and chief executive officer of Informatica said, " I would like to recognize the Informatica team for achieving a significant corporate milestone: exceeding $1 billion dollars in revenue over the past 12-month period." The Redwood City, California-based company reported net income of $22.83 million or $0.20 per share for the second quarter, higher than $18.17 million or $0.16 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $38.54 million or $0.35 per share, compared to $34.14 million or $0.31 per share in the year-ago quarter. On average, 19 analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items. Total revenue for the quarter increased 13 percent to $250.71 million from $222.44 million in the same quarter last year, and missed nineteen Wall Street analysts' consensus estimate of $251.16 million by a whisker. Software revenues grew 13 percent from last year to $103.5 million. Within software revenues, license revenues rose 9 percent to $87.3 million and subscription revenue surged 43 percent to $16.2 million. Total operating expenses for the quarter increased 10 percent from last year to $167.81 million. Operating margin increased to 13 percent from 12 percent in the year-ago period. "We are positioned for sustained growth with an expansive product portfolio and an innovation plan that are well-aligned with the strategic priorities of our customers," Abbasi added. INFA closed Thursday's regular trading session at $34.93, up $0.74 or 2.16% on a volume of 1.64 million shares. However, the stock plunged $3.69 or 10.56% in after-hours trading. Copyright RTT News/dpa-AFX |