Integrated Research (ASX:IRI) FY10 profit down 31%

Integrated Research (ASX:IRI) FY10 profit down 31%

Systems management company Integrated Research (ASX:IRI) has revealed its profit fell 31% in FY10 on lower revenue.

The company's revenue fell 13% to $37.3 million, and profit fell to $5.4 million. License fees fell by 20% and maintenance fees by 12%.

While a 5% reduction of expenses and lower R&D costs helped mitigate these declines, exchange rate volatility impacted earnings from overseas.

IRI shares are today unchanged at $0.400.

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