BEA Systems Inc. yesterday reported stronger than expected third-quarter profits and strong growth in sales. For the quarter ended Oct. 31, the company reported revenue of $126.5 million, up 56% from the same period last year. Operating income reached $14.4 million, or 12 cents a share, beating average analyst expectations by 2 cents, and up from last year's 7 cents a share. Taking acquisition costs into account, BEA broke even for the third quarter.
For the nine months ending Oct. 31, BEA posted revenue of $315.2 million and operating income of $29.1 million, or 24 cents a share. Accounting for acquisitions, the company lost 9 cents a share for the first nine months.
The results reflect BEA's acquisitions of WebLogic Inc., which accounted for 40% of licensing revenue in the most recent quarter, according to CEO Bill Coleman. Coleman said 54% of BEA licensing revenue was tied to Internet-related projects. BEA also said that founder Alfred Chuang has been named chief operating officer and a board member. Chuang had been leading sales efforts and integrating WebLogic into BEA.