Ascential Software has turned in its seventh consecutive quarter of revenue growth with GAAP revenue of $64.5 million for its fourth quarter, up 89% from $34.1 million in the same quarter the previous year, and up 40% from $45.9 million in Q3 2003.
Licence revenue was $30 million, up 59% from $18.8 million a year earlier and up 34% from $22.4 million in the third quarter.
"The fourth quarter of 2003 was the seventh consecutive quarter of sequential revenue growth for Ascential and the sixth consecutive quarter of year-over-year growth," says Julian Field, MD of CenterField Software, the local Ascential distributor.
Net income, which included a tax benefit of $16.5 million, was $17.3 million, or $0.27 per fully diluted share for the fourth quarter, compared to a net loss of $10.2 million, or $0.17 per share in Q4 2002, and a net loss of $1.7 million, or $0.03 per share in the third quarter of 2003.
"These results highlight the benefits the company is experiencing from its increased size and footprint, the value of its complete enterprise data integration solution and its strategic alliances with leading technology companies," Field says. "The differentiation of Ascential`s solution for enterprise data integration has been welcomed by customers and has driven the growth of the business."
Total revenue for the year was $185.6 million, including $92.6 million in licence revenue, compared with total revenue of $113 million, including $59.6 million in licence revenue in the previous year. Net income for 2003 was $15.8 million, or $0.25 per fully diluted share, compared with a net loss of $63.6 million, or $1.03 per fully diluted share in 2002.
The company had $516.2 million in cash, cash equivalents and short-term investments at year-end.
The quarter saw the launch of Ascential Developer Net, an interactive Internet forum where customers collaborate and share ideas, tips and best practices that help maximise the business impact and return on investment of their Ascential-based data integration solutions.
An OEM licence and reseller agreement with PeopleSoft was also completed in the quarter. PeopleSoft now embeds and resells data integration solutions from Ascential as part of its enterprise performance management solution.
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