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Business-Intelligence Sales Boost Cognos' Revenue
InformationWeek
The company's revenue growth was largely attributed to strong sales of its business-intelligence products. Revenue from these products in the quarter was $65.4 million, an increase of 33% from the first quarter last year.
Ron Zambonini, president and CEO of Cognos, also noted success with new accounts, with growth from that area rising to about 40%, compared with 30% last year. Cognos also reported that the number of orders valued in excess of $50,000 increased in the first quarter, with more than 220 orders of that size, compared with 180 a year ago. Revenue in the first quarter from the company's application development tools, PowerHouse and Axiant, was $16.2 million, compared with $18.1 million in the first quarter last year. Geographically, North America accounted for 63% of Cognos' first-quarter revenue, while Europe contributed 30%.
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