Actuate posts higher 4Q profit |
|
|
|
Published
:
Tue, 30 Jan 2007 00:01
|
SOUTH SAN FRANCISCO, Calif. (AFX) - Business software maker Actuate Corp. said Monday its fourth-quarter profit more than doubled, thanks in part to a change in its income tax provision, as sales increased.The company earned $10.2 million, or 15 cents per share, up from $4.1 million, or 7 cents per share, during the same period in the previous year.On an adjusted basis, excluding stock options costs, restructuring charges and other expenses, as well as a hefty income tax gain, the company earned $5.6 million, or 8 cents per share compared to profit of $3.5 million, or 6 cents per share in the year-earlier period.Sales in the fourth-quarter rose 20 percent to $35.1 million from $29.2 million.Analysts, on average, were looking for earnings of 8 cents per share on sales of $32.9 million, according to a poll by Thomson Financial.License revenue rose 38 percent to $14.2 million.Actuate said it recorded a non-cash tax benefit of about $6.4 million in the fourth quarter, about $5.6 million of which went through the provision for income taxes and $800,000 was credited to goodwill.For the full year, the company earned $13.8 million, or 21 cents per share, up 19 percent from $11.6 million, or 18 cents per share, in 2005.Adjusted earnings totaled $15.3 million, or 23 cents per share, for 2006 compared to $11.1 million, or 18 cents per share in the year-earlier period.Sales rose 21 percent to $128.6 million from $106.4 million.Analysts were looking for earnings of 23 cents per share on sales of $126.4 million.Shares rose 20 cents, or 4 percent, to close at $5.20 on the Nasdaq and added 21 cents, or 4 percent, to $5.41 in after-hours trading.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
TMT highlights to 15:40 GMT 