Hyperion, the global leader in business performance management software, has announced financial results for its first quarter of fiscal 2003 ended 30 September 2002.
Total revenues for the quarter were $119.9 million, compared to $117.3 million for the same quarter a year ago. Software licence revenue increased 15% to $44.6 million, compared to $38.8 million for the same period a year ago. Maintenance and services revenue totalled $75.3 million, compared to $78.5 million in the same period a year ago.
The company reported net income of $9.1 million or $0.27 per diluted share for the quarter, compared to net income of $1.9 million or $0.06 per diluted share for the first quarter of fiscal 2002.
Hyperion continued to strengthen its balance sheet during the quarter. The company had $346 million in cash and short-term investments at the end of the September quarter, compared to $284 million at 30 September 2001. Cash flow from operations for the quarter was $26.2 million.
"This is Hyperion`s sixth quarter in a row of improving results, achieved during this ongoing difficult economy," says Johan Cloete, CEO of GBI, South African distributor for Hyperion, and the business intelligence specialist in the JSE Securities Exchange-listed Global Technology group.
"Global interest is strong in Hyperion`s business performance management solutions, especially Hyperion Planning and Hyperion Financial Management. We are experiencing similarly strong demand in SA."
In the first quarter, nine of Hyperion`s top 10 customers bought one or both of Hyperion Planning and Hyperion Financial Management. Licence revenue from the company`s new suite-based applications was four times greater than in the September 2001 quarter. While maintenance grew 18%, consulting and training revenue declined 32%, consistent with the company`s business plan to rely more on partners for these services. The continued focus on executing strategy and aggressively managing expenses has enabled Hyperion to increase operating margins to 11%, up from 2% a year ago and 6% last quarter.
"In these tough economic times, customers are selecting Hyperion`s business performance management to gain increased visibility into company performance and more accurately plan for the future," adds Cloete. "Bringing information and business processes together with Hyperion`s applications and integrating platform enables customers to spot problems and opportunities, and to respond quickly and confidently."
Significant company developments in this period include:
* Major customer wins at Alcoa, Duke Energy Corporation, Gaz de France, HSBC Holdings, Morris Communications Corporation, Pernod Ricard, and the University of Texas MD Anderson Cancer Center.
* Added 185 new customers, an increase of 23% over last year.
* Hyperion was recognised on the first-ever Gartner Corporate Performance Management Suites Magic Quadrant for vision and ability to execute that vision.
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