BEA earnings miss license target
Summary
Revenue from the company's software licenses drops 2 percent to $120 million.
Topics
BEA Systems on Thursday reported an increase in quarterly revenue and net income but missed analysts' expectations for license revenue. The business software maker's revenue for its first fiscal quarter, which ended April 30, grew 10 percent to $264 million, aided by an increase in services revenue. However, revenue from software licenses dropped 2 percent to $120 million, compared with the same period last year. The company's net income grew 3.6 percent to $25.3 million.
"We signed 17 license deals (worth) over $1 million in Q1. While this is the most we've ever signed in a Q1, we are disappointed that we did not meet our license revenue plans, especially in the Americas," BEA Chief Executive Officer Alfred Chuang said in a statement. Earnings were 6 cents per share. Excludingspecial items, earnings were 8 cents per share. Financial analystshad forecast that the company, which sells infrastructure software tocorporations, would bring in 8 cents per share in the quarter.
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