Hyperion Solutions, distributed locally by Intellient, has announced a total third quarter revenue increase of 5%, with Hyperion System 9 generating more than 60% of the licence revenue collected for the quarter.
Total revenues for the quarter reached $185.6 million compared to the $177.1 million for the same period a year ago. Software licence revenue was $64.4 million compared to $68.7 million for the same period last year, while maintenance and services revenue grew 12% to $121.3 million compared to the $108.4 million of the previous year.
"Hyperion`s third-quarter net income, as reported in accordance with US generally accepted accounting principles (GAAP), was $16 million compared to net income of $18.8 million for the third quarter of fiscal 2005," says Marc Scheepbouwer, MD of Intellient.
"Overall the Q3 results are pleasing as the company has grown its total revenue and increased its non-GAAP operating margin, while continuing to invest in product innovation, marketing efforts and field organisation."
Hyperion`s balance sheet reflects cash and short-term investments totalling $445.8 million at 31 March 2006. This compares to $425.4 million in cash and short-term investments at 31 December 2005.
Cash flow from operations for the quarter was $48.9 million. The company used cash of $29.3 million to repurchase stock during the quarter, completing its $125 million stock repurchase programme announced in May 2005.
"Hyperion System 9 is making headway in the marketplace and continued to gain momentum in the quarter," Scheepbouwer says. "Generating a significant portion of Q3 licence revenue, the solution drove the majority of the larger transactions throughout the period. It is encouraging to see the level of customer interest in System 9 and the positive impact it is having on those organisations where it is running."
Hyperion also reported its outlook for the fourth quarter of fiscal year 2006. On a GAAP basis, the company expects total revenues in the range of $199 million to $204 million and diluted earnings per share in the range of $0.29 to $0.33. This outlook assumes an effective tax rate of 39.4% and diluted shares outstanding of 60.4 million.
Recent company developments for the quarter include:
* Winning major customer contracts at ABB (Switzerland), British Sky Broadcasting (UK), Prada (Italy), Saur Group (France), Toyota Financial Services and Xerox;
* The Hyperion board of directors authorising the repurchase of up to $100 million of its common stock;
* Being named one of North America`s top IT vendors with a Five Star rating by VARBusiness magazine;
* The magazine also recognising Mercedes Ellison, Hyperion`s VP of global partner sales, as one of North America`s "Top 100 Executives" in its list of the women and men driving IT distribution channels;
* The appointment of Frank Buytendijk as VP of corporate strategy; and
* The resignation of Burton Goldfield, senior VP of worldwide field operations.
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