Hyperion, the global leader in business performance management (BPM) software, has shown consistent strength in its financial results for the second quarter of fiscal 2003 ended 31 December 2002.
Total revenues for the quarter increased 6% to $126 million, compared to $118.9 million for the same quarter a year ago.
Software licence revenue increased 11% to $51.1 million, compared to $46.2 million; and maintenance and services revenue increased 3% to $74.9 million, compared to $72.7 million.
The company reported net income of $7.6 million or $0.21 per diluted share for the quarter, compared to net income of $3.7 million or $0.11 per diluted share for the second quarter of fiscal 2002.
Hyperion continued to strengthen its balance sheet during the quarter, increasing cash and repurchasing debt. The company had $302.2 million in cash and short-term investments, net of $50 million of long-term debt, at the end of the quarter.
"New and existing customers have responded well to Hyperion`s BPM offerings," says Marc Scheepbouwer, CEO of local Hyperion partner GBI, the business intelligence company in the JSE Securities Exchange-listed Global Technology group.
"In SA, we have seen dramatic takeup of Hyperion`s financial consolidation tools, which has led to GBI becoming one of the highest performing Hyperion entities within the EMEA region (Europe, Middle East and Africa), with a 5% share of sales of this application set."
Hyperion has continued to make year-on-year progress on its four key financial metrics:
* Licence revenue as a percentage of total revenue increased to 41% in the December 2002 quarter.
* Licence revenue booked through the indirect channel grew to 27% of total licence revenue, up from 24% last year and edging towards the target of 33%.
* The company significantly improved its profitability, both on a quarter-over-quarter basis and for the fiscal year to date, having more than tripled its operating margins to 10% for the combined first two quarters of fiscal 2003.
* Days` sales outstanding were 62 days at the end of the quarter, well below the target range of 75 to 85.
"Major companies are selecting Hyperion`s BPM solutions to obtain insight into their financial and operational performance, any time, anywhere," adds Scheepbouwer. "Hyperion`s mission is to define and lead the BPM category. Clearly, Hyperion`s strong financial results attest to its continued momentum as the market leader."
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