Informix Corp. today posted gains in third-quarter earnings and revenue, a rebound that beat Wall Street's expectations.
The database vendor reported net income of $18.4 million, up sharply from last year's net loss of $110.5 million. The company posted earnings per share of 10 cents, ahead of Wall Street's anticipated 6 cents per share and a substantial gain over last year's loss of 73 cents per share. Revenue for the quarter was $185.2 million, an increase of 23% over last year.
The company said it is targeting several areas for growth. "We continue to focus on those market segments where we have a competitive advantage, including high-performance online transaction processing, data warehousing and Web E-commerce," Informix chairman and CEO Bob Finocchio said in a statement. "I believe these markets represent attractive growth opportunities for Informix."
Charges for Informix's Oct. 7 acquisition of Red Brick Systems Inc., which was designed to increase the company's presence in the data warehousing market, are not included in this quarter's results.
Informix's stock closed up 12.8% to 5-1/2, before the earnings were disclosed.