Ascential Software has announced its fourth sequential quarter of revenue growth, posting revenues of $35.3 million for the quarter ending 31 March 2003. These figures represent a 70% increase over the same quarter last year when it posted revenues of $20.8 million. Licence revenues grew to $19.2 million, up 78% from $10.8 million in the first quarter of 2002.
Overall, the company realised a pro forma net income of $1.3 million, or 1c per share, compared with a pro forma net loss of $10.9 million, or -4c a share, in the first quarter of 2002.
"Ascential`s first-quarter results reflect the momentum and increasing impact of the company, and its progress towards its targets," comments Julian Field, MD of CenterField Software, the local Ascential distributor. "Companies have realised that data integration issues can be major hindrances to the successful deployment of enterprise applications," Field adds. "As the only vendor with an end-to-end enterprise data integration product suite, Ascential can address these issues and provide rapid return on investment."
Driving business over the coming year will be Ascential`s Basel II initiative. The organisation provides software and services necessary to integrate, standardise and transform critical risk-related data, to enable the world`s largest banks and financial institutions to comply with the New Capital Accord (Basel II) global financial risk management regulations.
In addition, Ascential`s data quality and integration solution for Siebel eBusiness Applications version 7.5 has received full certification from Siebel. Using Ascential INTEGRITY 6.0 with Siebel`s eBusiness Applications, companies can improve the quality of data and project timeliness for both initial Siebel deployments and ongoing Siebel application solutions.
As at 31 March 2003, the company had $616.5 million in cash, cash equivalents and short-term investments. Current projections indicate revenue growth of between 20% and 25% for 2003, barring unforeseen circumstances.
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