'03 License Revenue Surged 23% For MicroStrategy - InformationWeek

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1/30/2004
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'03 License Revenue Surged 23% For MicroStrategy

The business-intelligence vendor reported a loss, however, due to early debt retirement.

Business-intelligence software vendor MicroStrategy Inc. finished 2003 on a high note, reporting solid sales growth and earnings for its fourth quarter, ended Dec. 31. But the company still reported a $3.9 million loss for fiscal 2003.

MicroStrategy reported 23% year-over-year revenue growth in the fourth quarter, to $51.7 million, fueled by 14% growth in software-license revenue to $23.4 million. Net income was $17.5 million, or $1.02 per share, compared with earnings of $4.6 million, or 33 cents, per share in the same period one year earlier.

For fiscal 2003, MicroStrategy reported 19% revenue growth, to $175.6 million. That included a 23% surge in software-license revenue, to $77.2 million. But the $3.9 million (26 cents per share) loss for the year contrasted with the $38.1 million ($3.12 per share) profit the company reported for 2002. The loss was the result of a one-time $30 million charge in the third quarter for early debt retirement.

For its first quarter, MicroStrategy expects net income of $2.5 million to $4.5 million on revenue of $40 million to $43 million. For fiscal 2004, the company is projecting net income of $28.8 million to $33.2 million on revenue of $185 million to $195 million.

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