The IT automation software maker did have $1 million in earnings -- before $4.7 million in non-cash charges relating to acquisitions and stock options expense. Also, revenue was up 78% year over year to $25.1 million, accelerating from last quarter's 74% growth. The company is not slowing down, raising full-year revenue estimates to $102 million. To put a cherry on top, management boasted that it grew eight times faster than IBM
Still, there was some bad news -- the departure of now ex-CFO Sharlene Abrams after the SEC gave her a Wells Notice. This indicates that the SEC intends to press charges against Ms. Abrams for her former role as CFO at Mercury Interactive, with regards to stock-option practices and end-of-quarter shipments timing.
However, the good news outshines the bad this time around. Opsware software allows large firms like General Electric
And Marc Andreessen? While not too much in demand on the Wall Street party scene anymore, he is still being creative at Opsware, even starting a new company last year called Ning, which offers an online platform for social applications.
While Opsware is back in the black (at least on a non-GAAP, cash perspective), its shares still look pricey, with a forward P/E in the triple digits and a forward price-to-sales ratio of more than 6. Still, shareholders should be more than satisfied with this quarter.
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