MicroStrategy Inc. today posted strong fourth-quarter earnings, representing a 90% increase over the corresponding quarter the previous year.
The decision-support software maker, which went public in June 1998, announced revenue of $35.7 million for the fourth quarter ended Dec. 31, up from $18.7 million in the fourth quarter of 1997. Its 1998 revenue was $106.4 million, a 98.7% increase over revenue of $53.5 million the year before.
Net income for 1998 was $6.2 million, or 16 cents per share, on a diluted basis, vs. net income of $100,000 in 1997, the company said.
MicroStrategy attributed its positive growth in the fourth quarter to several new customer wins, including a $4.5 million software licensing deal with ShopKo Stores. The company also signed a multimillion-dollar deal with Eckerd Pharmacy, which will standardize on MicroStrategy's Web-based analysis platform for its enterprise business-intelligence system, the company said.
Overall, the company acquired 38 new customers, such as Air Canada, Ameritrade Holding Companies, Blockbuster Entertainment, the Capital Group Companies, and Vodafone.