Annual revenue increased by 16.5%
Quest Software has reported a 13% increase in net income to $29m for the fourth quarter 2008, compared to $25.3m last year, on revenue up 8% at $201.6m.
During the year, the company acquired access management software provider PassGo Technologies and NetPro Computing, a provider of optimization tools for Microsoft environments.
Diluted EPS was $0.28 compared to $0.24 last year. Operating income increased 42% to $39.6m, and the company generated cash flow from operations of $37.8m. Cash and cash equivalents at the end of the quarter was $216m. It said license revenue declined 6% to $93m, while services revenue increased 24% to $109m.
For the year, net income increased 7% to $67.9m, with total revenue up 16.5% at $735.4m.
Doug Garn, president and CEO at Quest, said: Our balance sheet remains strong, reflecting tight financial controls and net cash generated from operating activities in the year of $152m. We made a number of strategic acquisitions during 2008 in key areas like Windows management and virtualization management that position us to meet an even broader set of customer needs moving forward in 2009 and beyond.