Cognos posts 54% rise in Q1 earnings

Business intelligence firm Cognos has reported a more than 50% increase in net income for the first quarter of its fiscal year 2008.

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By  Administrator Published  July 2, 2007

Business intelligence firm Cognos has reported a more than 50% increase in net income for the first quarter of its fiscal year 2008.

The firm recorded net income on a US GAAP basis in the quarter of US$22.4 million, compared to US$14.5 million for the same period last fiscal year, a rise of 54%.

Revenue for the first quarter ended 31 May 2007 was US$236.7 million, up 9% on year.

Cognos regional general manager Derek Morrison (pictured) said he was pleased with the company's performance in what was its seasonally toughest quarter.

"We enter our second quarter, and the remainder of the year, with a strong product line-up and a healthy market opportunity," he said.

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