Database software supplier Informix became the latest hi-tech company to exceed Wall Street analysts' expectations, with a solid profit in its fiscal third quarter.
The Menlo Park, California based company, which has been eclipsed in recent years by rivals such as Oracle and IBM, said yesterday that sales had risen by 23 per cent compared to the same period last year, up from $150.2 million to $185.2 million.
While it had made a loss of $110.5 million in the quarter last year, this year Informix reported a profit of $18.4 million, or 10 cents a share. The consensus amongst analysts had been for six cents a share.
Software licence revenues, a key performance indicator, rose 24 per cent to $96.3 million, which also represented a 12 per cent growth on the same period last year.
Informix chief executive Bob Finocchio said the results showed the company was on track with its plans for growth.
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