OK. The company's name is Informatica (NASDAQ:INFA). And it's in the data integration business. Pretty boring, huh?
Maybe. But not the financials. In the first quarter, the company posted a 25% increase in revenues to $73.1 million. Net income was $5.3 million, or $0.06 per share, which was up from $4.3 million, or $0.05 per share.
Actually, Informatica helps companies solve a pretty tough problem: managing complex software and computer systems. For example, suppose a company buys another company. Well, the two aren't likely to have compatible IT infrastructures, such as with customer relationship management, enterprise resource planning, and supply chain management. But to achieve synergy, the systems will need to mesh.
Informatica's technology helps disparate systems synchronize properly, assisting companies with data integration, data warehousing, and data services.
The company continues to build on its technology leadership. For example, it recently purchased Similarity Systems, which helps companies improve the quality of data. In fact, Informatica raised $230 million in convertible notes, so it would not be a surprise to see other acquisitions over the next year or so.
And Informatica is having no problems getting new customers, signing 46 of them last quarter. There were also 154 repeat customers, such as American Express Travel Related Services, American Greetings, and TIAA-CREF.
With companies changing hands at a hefty clip, the mess in corporate IT is not going away anytime soon. There is a real need for the solutions Informatica provides. With a large customer base, strong technology, and hefty amounts in the bank, Informatica should continue its growth.
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Fool contributor Tom Taulli does not own shares mentioned in this article.
