What's good for Oracle (NASDAQ:ORCL) is good for Quest Software (NASDAQ:QSFT). You see, a big part of Quest's business is building products that help manage Oracle products. And with Oracle's growth picking up, that should help Quest grow.

In the first quarter, Quest posted a 23.4% increase in revenues to $127.5 million. During this time, net income was $6.6 million, or $0.06 per share, which was down 27% from the same period a year ago. On a non-GAAP basis -- that is, net of stock-based compensation charges and write-offs associated with acquisitions -- operating income increased 28% to $15.9 million, from $12.4 million.

Quest's original business was developing tools to help manage Oracle databases. During the 1990s -- as Oracle's business soared -- it was a good place to be. However, Quest realized this would not last forever. As a result, the company has broadened its product line. For example, Quest is seeing strength in its products related to Microsoft's SQL Server, since Microsoft had a particularly strong quarter for its SQL Server line.

Another business segment for Quest is Applications. Essentially, these are tools that allow major companies to better manage their complex ERP (enterprise resource planning) systems, such as SAP (NYSE:SAP), PeopleSoft, and so on. But over the past few years, Oracle has consolidated a variety of these companies. As a result, these ERP customers have been holding back on purchases. Then again, as customers become more comfortable with Oracle, there should be more growth in Quest Applications products.

Finally, Quest has a Windows Management division. Essentially, these are tools that help get more productivity from Microsoft products, such as Active Directory, Exchange, and Sharepoint.

In other words, Quest is becoming less dependent on Oracle. Again, it looks like good timing for Quest, since Microsoft is in the midst of launching a variety of enterprise products -- which should help propel growth. So for the next few years, the mantra might be different: What's good for Microsoft is good for Quest.

Fool contributor Tom Taulli does not own shares mentioned in this article.