Posts net income of $6.15m, compared to $4.23m for same period last year
CDC Software has reported revenue of $48.6m for the third quarter of 2009, a decrease of 20% compared to $60.5m for the same period last year. License revenue, maintenance revenue, services revenue and hardware revenue were 16%, 52%, 31% and 1%, respectively, of total revenue.
Operating income for the quarter was $7.2m, up compared to $5.6m for the third quarter of 2008. Operating margin was 15% during the quarter. Gross profit increased to $27.2m from $26.9m and gross margin remained flat at 56%.
The company has posted a net income of $6.1m for the third quarter of 2009, an increase compared to $4.23m for the same period last year. Earnings per share increased to $0.22 from $0.15.
Peter Yip, CEO of CDC Software, said: “We are pleased that we exceeded Wall Street consensus estimates for third quarter GAAP net income and Non-GAAP net income per share, which are key financial metrics for our company. In addition, our cash flow from operations of $19.2m represented an increase of more than 200% from the same period last year and is the highest on record for CDC Software.
“Our fourth quarter sales pipeline has continued to increase and has shown steady growth over the last four quarters. In addition, our cross-sell opportunities in the fourth quarter have continued to increase as well as the mix of new logo customer as a percentage of license sales.”