Business intelligence and performance-management software vendor Actuate has reported a flat net income of $3.1m for the third quarter 2009. Revenue declined 13% to $29.35m. Skip related content
Operating income grew 24% to $4.28m, while diluted EPS rose 20% to $0.06. Cash used in operations was $1.4m and cash, cash equivalents and investments at the end of the quarter was $70.3m.
The company said license revenue fell 14% to $8.62m, maintenance revenue declined 5% to $19.34m, and professional services revenue fell 57% to $1.39m. During the quarter, Actuate and open source data warehousing company Infobright announced a high-performance virtual machine for business intelligence and data warehousing.
For the nine-month period, Actuate has reported a 2% decline in net income to $8.74 compared to a net income of $8.9m in the same period last year. Revenue declined 10% to $88.14m.
Pete Cittadini, president and CEO at Actuate, said: "While there is emerging consensus that the global economy is on the mend, companies remain cautious about their IT spending. We continue to focus on our open source and BIRT strategic initiatives and on growing the adoption of BIRT-related Rich Information Applications, which we believe create differentiation for Actuate in the marketplace. We are pleased to see that this quarter marked a record for BIRT related business, which continues to indicate that our BIRT strategy is working."
