Expects total revenue growth of 25-30% for FY 2010
Software AG has reported total revenue of €250.3m for the first quarter of 2010, an increase of 51% compared to €165.3m for the same period last year.
Product revenue was up by 20% to €146.7m from €122.5m, licensing revenue increased 24% to €61.2m from €49.3m, and maintenance revenue was up 17% to €85.4m from €73.2m.
EBIT was €46.6m for the first quarter of the fiscal 2010, up 22% from €38.1m in the same period last year. The company posted a net income of €28m in Q1 2009, compared to €25.6m for the same period last year. Earnings per share rose to €0.98 from €0.90.
Dean Mericka, president of sales of Americas at Software AG, said: The first quarter was indeed triumphant. We saw a 15% growth that reassured us that companies are focused on aligning how they do business with IT solutions.
Now, with the IDS Scheer suite of products, we have a powerhouse of solutions that customers are noticing and taking advantage of. We are already winning joint projects with both ARIS and webMethods products.
Software AG forecasts total revenue growth of 25-30% with product revenue growth of 12-15% for fiscal year 2010, at constant currency rates. The company also forecasts growth of 8-12% in net income.