Profit, Sales Both Rise In Hyperion Q1

CEO Godfrey Sullivan reports strong customer uptake for new Hyperion System 9 business performance management system.
Hyperion Solutions turned in an improved topline and earnings during its fiscal first quarter, ended Sept. 30, surpassing Wall Street analysts' consensus forecasts.

Hyperion earnings, reported in accordance with generally accepted accounting principles (GAAP), grew 14 percent to $13.3 million, or 33 cents per share. Excluding equity-based compensation and other issues, profit came in at $19.9 million, or 49 cents per share. Equity analysts' consensus non-GAAP profit estimates were 42 cents per share.

Sales for the quarter rose 7 percent over the comparable period last year to $170.2 million. Software license revenue increased 5 percent to $60.5 million.

"We're just feeling great," said Hyperion CEO Godfrey Sullivan. "These are the best results we've ever delivered in a Q1."

Hyperion is now projecting second-quarter sales of between $184 million and $189 million. Wall Street forecasts put sales at the high end of that range.

The vendor completed 16 transactions for Hyperion System 9, an upgrade of its performance management system that the company debuted recently. System 9 was available during the last week of Hyperion's first quarter. "We saw surprisingly strong demand" for the new software, Sullivan said.