Business-Intelligence Sales Boost Cognos' Revenue

Cognos Inc. yesterday reported revenue for its fiscal first quarter ended May 31, posting a 21% increase over the same period last year. Revenue for the quarter was $81.6 million, compared with $67.3 million in the first quarter of fiscal 1998.

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%.