Versant Corporation, a provider of specialized data management, has reported net income of $2.1 million for the fourth quarter ended October 31, 2007, compared to net income of $1.4 million in the same quarter of fiscal 2006.
For the fourth quarter, Versant reported revenues of $5.6 million from its continuing operations, a 21% increase compared to $4.6 million for the comparable period last year. This increase was driven primarily by license revenues which grew by 45% to $3.3 million in the fourth quarter of 2007 from $2.3 million in the fourth quarter of 2006.
Diluted net income per share was $0.56, compared to diluted net income per share of $0.38 for the fourth quarter of fiscal 2006.
Revenues from continuing operations for the fiscal year ended October 31, 2007, was approximately $21.2 million, a 26% increase compared to approximately $16.7 million for fiscal 2006. Net income for the 2007 fiscal year was $7.6 million, an increase of 77% over net income of $4.3 million in fiscal 2006. Diluted net income per share for fiscal 2007 was $2.06, compared to diluted net income per share of $1.20 in fiscal 2006.
Jochen Witte, CEO of Versant, said: This was another quarter of strong license revenue growth and earnings for Versant. For fiscal 2007, our license revenues increased by 50% compared to fiscal 2006, thereby driving our net income to a record level of $7.6 million.