Earnings Growth Outpaces Sales Uptick At SPSS - InformationWeek

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5/4/2005
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Earnings Growth Outpaces Sales Uptick At SPSS

The predictive analytics firm reports earnings of $2.4 million, compared with profits of $2.1 million this time last year.

Predictive analytics software firm SPSS garnered a mild sales increase in its first quarter, with earnings growth outpacing revenue growth.

SPSS reported earnings of $2.4 million on revenue of $57.5 million in the quarter ended March 31, compared with profits of $2.1 million on a topline of $57.1 million in the same period last year. The company cited better sales execution for the improvement. License and maintenance revenue grew 5 percent and 6 percent, respectively.

"While our favorable performance in the first quarter, following a strong fourth quarter in 2004, still does not constitute a trend, we believe it is a further validation of our strategy and demonstration of our ability to deliver value for customers and shareholders," said SPSS president and CEO Jack Noonan in a prepared statement.

Results included one-time charges of $1.7 million related to cost-cutting efforts at the company. SPSS took a write-off of $1.3 million in lease costs for office space reductions and one-time severance costs of $0.4 million from "modest" staff reductions, a company spokesman said.

SPSS foresees sales of between $56 million and $58 million in the second quarter.

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