Informatica Hits Q3 Earnings Numbers

The data integration firm reported sales of $52.4 million, up from $50.6 million in the same period last year.
Informatica's third-quarter revenue edged upward over the year prior, and its profits matched market expectations excluding the impact of a previously announced charge.

On Tuesday, the data integration software firm reported sales of $52.4 million, up from $50.6 million in the same period last year. Pro forma net income for the quarter was $2.1 million, in line with Street forecasts but short of the $4.4 million the company reported last year.

Informatica swung to a loss of $0.3 million when reporting results in accordance with generally accepted accounting principles (GAAP). Those results include a charge stemming from new estimates related to a 2001 restructuring charge. Informatica pre-announced the most recent charge, which relates to its headquarters location, on Oct. 8.

The company pointed to several positive customer developments in the quarter. Informatica signed repeated business with 124 customers, including General Electric, Hewlett-Packard and Warner Brothers Entertainment. New customers included TD Waterhouse Group, the Federal Reserve Bank of New York and the Tennessee Valley Authority.

Informatica booked four transactions worth more than $1 million each in the third quarter, the company said.

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