Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Non-GAAP EPS of $0.80 rose 27% from the year-ago quarter and beat the consensus estimate of $0.76. Bookings grew 30% year-over-year to a first-quarter record level, while revenue grew 14%.
Now what: Management said the strong demand is being driven by stimulus, health-care reform, and other regulatory requirements. It raised non-GAAP EPS guidance for 2011 to $3.55 to $3.62, up from a previous estimate of $3.50 to $3.60. Looking further out, the company stated it is investing in new solutions and services to fuel growth through the decade, including a new cloud-based platform.
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