Web publishing software maker Macromedia has posted a 51 per cent increase in revenue for the first quarter and struck a deal with IBM subsidiary Lotus.
Lotus has purchased the Californian based company's learning management business unit for an undisclosed amount. It also signed an agreement to distribute certain Macromedia authoring software for Web based learning including Dreamweaver and Fireworks.
Lotus will hire all Pathware staff as part of the agreement and Macromedia said it expected the distribution deal to bring in a minimum of $30 million in revenue over the next three years.
At the same time, Macromedia announced revenue of $48.9 million for the first quarter ended 30 June 1999, a 51 per cent increase over the $32.3 million reported for the same period last year.
Profit increased 50 per cent to $43.9 million from the first quarter 1998 and net income was up to $7.1 million or 15 cents per share compared with $2.9 million or seven cents a share a year ago.
Rob Burgess, Macromedia's chairman and chief executive commented: "Revenues grew over 50 per cent during the quarter representing strong demand for our products and a strong growing marketplace for Web publishing solutions."
He added: "Dreamweaver, Flash and Fireworks all outperformed again this quarter."
Burgess said downloads of Flash and Shockwave player reached record levels, with 48 million downloads recorded during the quarter.
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