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Q2 Sales, Profits Up For Cognos

Cognos reports growth in both sales and earnings compared with the same period last year, but the firm's guidance for the coming quarter comes up short of analysts' estimates.
Business intelligence software maker Cognos reported second-quarter growth in both sales and earnings compared with the same period last year, but the firm's guidance for the coming quarter came up short of analysts' consensus estimates.

Cognos reported sales of $212 million in the period, up 14 percent compared with last year's second quarter. Earnings rose 4 percent in the most recent quarter to $28.7 million. License revenue reached $78.6 million, Cognos, said, an increase of 4 percent from $75.4 million a year ago.

For the third quarter, Cognos forecast sales in the range of between $230 million and $237 million. Though the estimate falls in line with equity analysts' consensus views, Cognos' per-share third-quarter earnings forecast of between $0.36 and $0.39 falls just shy of analysts' expectations.

Cognos blamed foreign exchange issues for the anticipated shortfall. The company, which is based in Ottawa, is taking hits from a strong Canadian dollar.

Last week, Cognos released Cognos 8, an overhauled release of its chief business intelligence platform. The company said demand for the product puts Cognos in a strong position going forward.