News
News
11/26/2002
02:38 PM
Connect Directly
RSS
E-Mail
50%
50%

DataMirror Pays Price For Failed Investment

Write-offs on investment in another vendor send supplier of enterprise application integration software into the red.

DataMirror Corp., a supplier of enterprise application integration and system-availability software, on Tuesday reported strong sales in its third quarter, but write-offs for its investment in another software vendor put the company in the red.

For the quarter ended Oct. 31, DataMirror reported sales of $15.7 million, up 9.7% from the same period last year. License revenue, which many software vendors have seen decline during the slowdown in IT spending, was up nearly 16% year-over-year to $8.4 million. Maintenance-related revenue also increased while services revenue declined slightly. "Another solid quarter of revenue growth and cost-control," says CEO Nigel Stokes.

But DataMirror reported a net loss of $4.3 million, 38 cents per share, for the quarter because of a write-down of nearly $4.6 million for the company's investment in PointBase Inc., a developer of Java-based mobile database software. Without that and other one-time charges, DataMirror's net income was $1.6 million.

For the fourth quarter, DataMirror expects revenue to be in the range of $15.8 million to $16.3 million, while net income is expected to be in the range of 10 cents to 14 cents per share.

Comment  | 
Print  | 
More Insights
IT's Reputation: What the Data Says
IT's Reputation: What the Data Says
InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business really views IT's performance in delivering services - and, more important, powering innovation. Our results suggest IT leaders should worry less about whether they're getting enough resources and more about the relationships they have with business unit peers.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest September 24, 2014
Start improving branch office support by tapping public and private cloud resources to boost performance, increase worker productivity, and cut costs.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.