Interwoven develops content management software for large organizations such as Cisco
Fiscal first-quarter revenues increased 13% to $52.7 million, and licenses grew 12% to $19.6 million. Interwoven added 74 customers; its total now exceeds 3,800.
Because of a voluntary stock-option investigation, management did not provide details on its net income. Still, the company posted juicy cash flows of $11.9 million in the first quarter, and it holds $188 million in the bank.
Interwoven also recently hired a new CEO, Joe Cowan, a seasoned executive in the enterprise software space. He previously sold Manugistics to JDA Software in April 2006.
In light of Cowan's M&A experience, it's no surprise that investors continue to speculate on a buyout for Interwoven. Over the past year, IBM bought FileNet, Oracle acquired Stellent, and Open Text
Despite the run-up in the stock, Interwoven's valuation is still reasonable, at about 2.5 times revenues. The company is also in the midst of several major product launches, which should continue to spur its growth. Even if there's no buyout looming, Interwoven will likely keep shareholders happy.