When Sohaib Abbasi came on board as Informatica's
According to its report late last week, Informatica posted revenue of $96 million, a 22% increase over the past year. License revenue rose 22% to $41 million. Informatica snagged 53 customers and signed repeat business with 194 customers, including Credit Suisse
The bottom line is also looking strong. Third-quarter net income came to $14.4 million, or $0.15 per share, which compares to net income of $9.4 million, or $0.10 per share, in the same period a year ago. The balance sheet is also solid, with $150 million in cash and cash equivalents.
Informatica is seeing improvement in its European operations, and it's also getting traction from partnerships with large players like Accenture
The long-term prospects for Informatica look promising. Some of the key drivers include the trend of strategic global mergers, as well as the emergence of new technologies, such as on-demand software. These all require data integration, and Informatica continues to improve its product line. For example, the company has solutions for Salesforce.com's
And with a big chunk of cash, Informatica has opportunities for stock buybacks -- or even some deal-making. But in light of its actions so far, it's a good bet that the company will make sure it continues to grow its core business at a healthy rate.
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