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Informatica Reports Record First Quarter Revenues of US$109.1 million

Informatica Corporation achieves operating income growth of 21% for the first quarter ended March 31, 2009.
  • 01 May, 2009 13:31

<p>Informatica Corporation (NASDAQ: INFA), the leading independent provider of enterprise data integration software and services, recently announced financial results for the first quarter ended March 31, 2009.</p>
<p>Revenues for the first quarter of 2009 were US$109.1 million, up five percent from the US$103.7 million recorded in the first quarter of 2008. License revenues for the first quarter were US$44.1 million, compared to US$44.2 million recorded in the first quarter of 2008. Total revenues were negatively impacted by currency fluctuations. Using currency exchange rates from the first quarter of 2008, total revenues would have been US$6.4 million higher in the first quarter of 2009.</p>
<p>Income from operations for the first quarter, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was a first quarter record US$15.0 million, up 21 percent from US$12.4 million in the first quarter of 2008. GAAP income from operations was negatively impacted by currency fluctuations. Using currency exchange rates from the first quarter of 2008, GAAP income from operations would have been US$0.8 million higher in the first quarter of 2009.</p>
<p>GAAP net income for the first quarter of 2009 was US$11.1 million or $0.12 per diluted share, in comparison to US$11.2 million or $0.12 per diluted share in the first quarter of 2008. For the three-month periods ended March 31, 2008 and March 31, 2009, earnings per diluted share is calculated on an “if converted” basis, including the add-back of US$1.1 million of interest and convertible notes issuance cost amortisation, net of income taxes.</p>
<p>Non-GAAP income from operations for the first quarter of 2009 was US$23.6 million, up 28 percent from US$18.5 million in the first quarter of 2008. Non-GAAP net income for the first quarter of 2009 was US$17.1 million or US$0.18 per diluted share, up over nine percent from US$15.7 million or US$0.16 per diluted share in the first quarter of 2008. Non-GAAP income from operations and non-GAAP net income exclude charges and tax benefits related to the amortisation of acquired technology and intangible assets, facilities restructurings, and share-based payments. A reconciliation of GAAP results to non-GAAP results is included below.</p>
<p>“Our record first quarter results reaffirm our sound strategy and the Informatica team’s operational discipline, particularly in light of the current global economic recession,” said Sohaib Abbasi, chairman and CEO of Informatica. “With our singular focus and track record of continual innovation, we are well-positioned with a compelling value proposition. Our strongest-ever product portfolio enables our customers to “do more with less” while aligning IT with top business imperatives.”</p>
<p>Significant milestones achieved since January 2009 include:</p>
<p>Signed repeat business with 190 customers: customers continue to derive considerable value from their investments in Informatica solutions. Repeat customers included Amtrak, Chinabond, EchoStar Communications, New York Police Department, Union Bank of California, Virgin Media, and Vivo Celular.</p>
<p>Added 212 new customers: Informatica increased its customer base this quarter to 3,664 companies including a first quarter record 59 new Informatica customers and 153 customers added through the Applimation acquisition. New customers include Aeropostale, Arbonne International, Bank of the West, Delta Dental Plan of Michigan, Kredyt Bank SA Centrala, Key Energy, and Yale University.</p>
<p>Acquired Applimation to grow Data Integration Platform leadership by incorporating application Information Lifecycle Management (ILM) into our technology portfolio, thus expanding our addressable market to encompass an adjacent growth category. Informatica’s application ILM products manage various phases of the application data lifecycle, from testing to archiving. Application ILM reduces storage cost and total-cost-of-ownership associated with enterprise business applications, such as ERP, CRM, HR, and SCM.</p>
<p>Informatica On Demand Data Loader named ‘Best Data Integration Tool’ on Force.Com AppExchange by salesforce.com customers. Informatica On Demand Data Loader garnered more four and five star reviews than any other integration product in its category. Over 100 companies around the world now use Informatica On Demand to integrate their Salesforce CRM applications and Force.com platform with their back office systems.</p>
<p>Delivered the Informatica Platform: Informatica Platform leverages our broadest-ever product portfolio, and provides well-differentiated value: comprehensive, unified, open, and economical.</p>
<p>Three Informatica customers named as “Computerworld Laureate” finalists for 2009. The Defense Health Services Systems, LinkShare and the U.S. Departments of Defense and Veterans Affairs were chosen in a select group of finalists due to their contributions for the betterment of society through exceptional use of information technology.</p>
<p>About Informatica
Informatica Corporation (NASDAQ: INFA) is the leading independent provider of enterprise data integration software and services. With Informatica, organisations can gain greater business value by integrating their information assets across the enterprise. More than 3,600 companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of varying complexity and scale. For more information, call +1 650 385 5000 (1-800-653-3871 in the U.S.), or visit www.informatica.com.</p>

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