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United States : Pegasystems Announces Financial Results for Second Quarter and First Six Months of 2014 [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Pegasystems Inc., the software company powering the digital enterprise with Better Business Software®, today announced results for its second quarter and six months ended June 30, 2014. We are pleased with our strong performance in the first half of 2014, said Alan Trefler, Founder and CEO of Pegasystems. License revenue growth was 28% for the first half, and in addition we have seen a substantial build in license backlog. We continue to focus on delivering the critical capabilities our clients need, including the ability to leverage social data; support any mobile device; incorporate predictive analytics across multiple data sources; enable cloud deployment; and leverage the emerging internet of things. On the heels of the largest-ever gathering of our global customers at PegaWORLD 2014, it s more apparent than ever that our message is resonating, and our clients are leveraging Pega to achieve transformational results, continued Mr. Trefler. a From digitally native companies like PayPal and Expedia to more traditional banks and insurance companies, our clients are using Pega technology to create agile systems that meet the evolving needs of their customers. As a result of our strong performance in the first half of 2014 and the increased visibility of having built backlog, we believe we will modestly exceed our previously issued non-GAAP revenue guidance of approximately $580 million for the full year 2014, said Rafe Brown, Pegasystems CFO. The additional visibility we have on the year allows us to accelerate our investment in product, cloud, and distribution resources while maintaining our non-GAAP EPS guidance for the year of approximately 78 cents per share. Total cash, cash equivalents, and marketable securities at the end of the quarter was $216 million, up 38% from 2013 year-end. Cash generated from operations for the first six months of 2014 was $73.9 million, an increase of 15% on a year-over-year basis. Free Cash Flow, which we define as operating cash flow less Cap Ex, was $71.1 million, an increase of 14% on a year-over-year basis. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |