Cognos Inc. reported solid earnings in its first quarter despite software buyers' demanding attitudes. "The sales cycle continues to be challenging," says Robert Ashe, Cognos' president and chief operating officer. "It's not that people aren't buying. Customers are very ROI-focused. They just have to justify [purchases] more."
Cognos reported $120.1 million in revenue for the quarter ending May 31, an 11% increase from revenue in the same quarter a year ago. Net income was $9.9 million compared with a net loss of $2.1 million in the year-ago quarter, excluding special charges.