Business process management software provider Pegasystems has reported a 150% increase in net income to $6m for the third quarter 2009, compared to $2.4m in the same quarter last year. Revenue was up 23% at $64.8m. Skip related content
Operating income was $7.5m compared to $3.4m in the same period last year. Diluted EPS was $0.16 compared to diluted EPS of $0.06 a year ago. Cash and cash equivalents was $56.4m.
The company said software license revenue grew 59% to $28.4m, maintenance revenue grew 24% to $12.5m, and professional services revenue declined 3% to $24m.
For the nine-month period, the company reported a net income of $25.9m compared to $8.1m a year ago, on revenue up 25% at $191.1m.
Craig Dynes, chief financial officer at Pegasystems, said: "In spite of the economy, we increased license signings and backlog. This is the ninth consecutive quarter that we have set new records for quarterly revenue. We expect that in 2010 we will surpass another milestone with revenue in excess of $300m. This is preliminary guidance that will be refined when we are able to evaluate business conditions at the end of 2009."
