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Informatica Reports Record Second Quarter Revenues And Earnings

Informatica Corporation (NASDAQ: INFA), the leading independent provider of enterprise data integration software and services, recently announced financial results for the second quarter ended 30 June 2009.
  • 24 July, 2009 12:15

<p>Revenues for the second quarter of 2009 were USUS$117.3 million, up three per cent from the USUS$113.8 million recorded in the second quarter of 2008. License revenues for the second quarter were USUS$48.7 million, compared to USUS$48.5 million recorded in the second quarter of 2008. Total revenues were negatively impacted by currency fluctuations. Using currency exchange rates from the second quarter of 2008, total revenues would have been USUS$6.5 million higher in the second quarter of 2009.</p>
<p>Income from operations for the second quarter of 2009, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was a second quarter record USUS$17.1 million or 15 per cent of revenue, up 17 per cent from USUS$14.6 million in the second quarter of 2008. GAAP net income for the second quarter of 2009 was USUS$12.0 million or USUS$0.13 per diluted share, in comparison to USUS$11.5 million or USUS$0.12 per diluted share in the second quarter of 2008. For the three-month periods ended June 30, 2009 and June 30, 2008, earnings per diluted share was calculated on an “if converted” basis, including the add-back of USUS$1.0 and USUS$1.1 million, respectively, of interest and convertible notes issuance cost amortisation, net of income taxes.</p>
<p>Non-GAAP income from operations for the second quarter of 2009 was USUS$26.5 million or 23 per cent of revenue, up 22 per cent from USUS$21.7 million in the second quarter of 2008. Non-GAAP net income for the second quarter of 2009 was USUS$18.7 million or USUS$0.19 per diluted share, up 12 per cent from USUS$16.7 million or USUS$0.17 per diluted share in the second 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, purchased in-process research and development, and share-based payments. A reconciliation of GAAP results to non-GAAP results is included below.</p>
<p>For the six-month period ended 30 June 2009, revenues were USUS$226.4 million, an increase of four per cent from the USUS$217.5 million recorded for the first six months of 2008. License revenues for the first six months of 2009 were USUS$92.8 million, up from US$92.7 million in the first six months of 2008. GAAP net income for the first six months of 2009 was USUS$23.0 million or USUS$0.25 per diluted share, up from USUS$22.7 million or US$0.24 per diluted share in the first six months of 2008. Non-GAAP net income for the first six months of 2009 was US$35.8 million or US$0.37 per diluted share, up over 10 per cent from US$32.4 million or US$0.33 per diluted share in the first six months of 2008. For the six-month periods ended June 30, 2009 and June 30, 2008, earnings per diluted share is calculated on an “if converted” basis, including the add-back of US$2.1 and US$2.2 million, respectively, of interest and convertible notes issuance cost amortisation, net of income taxes.</p>
<p>“Our sustained record results over the previous five years, despite the unprecedented macroeconomic challenges, underscore the merits of our focused strategy to establish Informatica as the number one independent leader in the data integration market,” said Sohaib Abbasi, chairman and CEO of Informatica. “I would like to recognise the Informatica team for their exemplary operational discipline.”</p>
<p>Significant milestones achieved since April 2009 include:</p>
<p>Signed repeat business with 237 customers. Customers continue to derive considerable value from their investments in Informatica solutions. Repeat customers included Alliant Energy, Allergan, Bank of America, Cadbury Adams, Deutsche Post, Harvard Business School, Maryland Department of Education and Safaricom.</p>
<p>Added 65 new customers. Informatica increased its customer base this quarter to 3,793 companies including 65 new Informatica customers and 64 customers added through the AddressDoctor acquisition. New customers include China Southern Power Grid, Comprehensive Health Management, Directorate General of Immigration Indonesia, Friends Provident Management Services, Japan Post, Sterling Health Plans and Swire Beverage.</p>
<p>Announced PowerCenter Cloud Edition and Informatica On Demand PowerCenter Service. PowerCenter Cloud Edition enables IT departments to deploy PowerCenter on Amazon’s Elastic Computing Cloud (Amazon EC2) infrastructure to integrate data managed by Amazon EC2, other cloud computing vendors and even on-premise applications.</p>
<p>Acquired AddressDoctor to advance Data Quality leadership by adding premier global address validation capabilities covering more than 200 countries and territories. With AddressDoctor, Informatica customers gain global address validation as part of a comprehensive data quality product offering.</p>
<p>Positioned in the Leaders Quadrant in the Gartner 2009 Data Quality Tools Magic Quadrant. According to the report, “the market for data quality tools continues to enjoy significant growth despite challenging economic conditions and the general curtailment of IT budgets. Organisations are aware that data quality competence is fundamental to the success of critical initiatives such as master data management (MDM), information governance, business intelligence (BI) and IT modernisation.”</p>
<p>Announced Ninth Annual Innovation Awards. 2009 winners were recognised for achieving exemplary business value and showcasing operational efficiencies through their use of the Informatica Data Integration Platform. The overall winner for 2009 was Carnival Cruise Lines for "A Strategic Approach to Data Integration." Additional winners include Australian Department of Innovation, Industry, Science and Research (DIISR), Australian Pharmaceutical Industry, Avaya, Bax Global/Schenker, BNSF, Centene, Duke Energy, ICICI Prudential Life Insurance Company, NBC Universal, Smith &amp; Nephew and Zyme Solutions.</p>
<p>Received certification for Informatica’s Application Information Lifecycle Management solutions for Data Archiving on the Hitachi Content Archive Platform. The Hitachi and Informatica relationship provides customers with a cost-effective way to archive, store and retrieve business critical information.</p>
<p>Informatica CFO Earl Fry recognised as Finance Executive of the Year 2009. Mr. Fry was awarded Stevie Awards in the 7th annual American Business Awards and in the 6th annual International Business Awards in recognition of his contributions to Informatica’s growth and his exceptional financial stewardship.</p>
<p>About Informatica:</p>
<p>Informatica Corporation (NASDAQ: INFA) is the world’s number one independent leader in data integration software. The Informatica Platform provides corporations with a comprehensive, unified, open and economical approach to lower IT costs and gain competitive advantage from their information assets. More than 3,700 companies worldwide rely on Informatica to access, integrate and trust their information assets held in the traditional enterprise and in the internet cloud. 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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