Autonomy Q3 profits exceed expectations

UK-based software developer Autonomy today said turnover was up $14.6m, out-stripping forecasted predictions by $2.5m.

The recently listed firm, which produces search software, saw its pre-tax profit for the quarter reaching $9.2m with gross margins for the period also rising from 90 to 95 percent. Autonomy's results were driven by strong growth in the US, continuing expansion into Europe and Asia, further boosted by foreign exchange gains and National Insurance writebacks. In a statement, Mike Lynch, CEO and founder, said: "Our third quarter results demonstrate Autonomy's ability to build upon its global leadership position."