Business Objects closed the Crystal Decisions deal Dec. 11, so the quarter included 20 days of financial results from the combined companies. The $184.2 million revenue figure was up 46% from the same period a year ago. That included license fees of $98.3 million, up 48% from one year earlier.
Had Business Objects and Crystal Decisions been combined for the entire quarter, sales would have been approximately $240 million, says CEO Bernard Liautaud. "The bottom line is, we are fulfilling the promise of this acquisition," he says.
The loss for the quarter includes a number of one-time charges related to the acquisition, including a $28 million write-off for acquired in-process technology, restructuring charges of $7.8 million, and other integration charges of $5.5 million.
For all of 2003, Business Objects reported net income of $22.6 million, or 34 cents per share, down 44% from 2002, on sales of $560.8 million, up 23% from 2002. For the current quarter, Business Objects expects revenue in the range of $208 million to $218 million and earnings of 3 cents to 9 cents per share.