Business intelligence and corporate performance management group Cognos`s net income for fiscal 2003 surged by 277% to $73.1 million. The group has also reported record revenue for the year.
"Cognos has every reason to be delighted with its results and performance," says Cognos SA`s MD, David McWilliam. "It was rock solid on all fronts. Major organisations throughout the world, and in SA, continue to make significant commitments to Cognos."
McWilliam describes the outlook as excellent, saying the acquisition of Adaytum is on track and "has already unleashed substantial synergy in the market". Enterprise planning company Adaytum was acquired in the fourth quarter.
Cognos achieved record revenues for both the fourth quarter and the fiscal year. Fourth-quarter revenue of $163.7 million was 15% up on the year-earlier quarter which full-year revenue increased 12% from $491.3 million to $551 million.
Net income for the fourth quarter almost tripled from $10.1 million to $29.6 million.
McWilliam says the group`s competitive position has never been better.
"Locally, we have delivered on our commitments to the channel and our clients. We have never been better positioned to leverage the overall opportunity Cognos`s strategy has created for us."
Revenue for the first quarter of fiscal 2004, the three months to 31 May, is expected to between $146 million and $150 million, while diluted earnings per share are expected to be in the range of $0.12 to $0.14.
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