Sterling Software today announced a 2-for-1 split of its common shares in a bid to appeal to a broader base of investors.
The Dallas-based applications house - which acquired struggling Texas Instruments last year - said it made the split to improve the liquidity of its shares by ensuring a price range accessible to more buyers.
The company pleased analysts with its fourth quarter results, announced last month, in which earnings per share were 49 cents, 17 per cent better than Wall Street estimates. Revenue was $148.8 million, up 53 per cent on Q1 last year.
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