Looking good: Cognos reports strong second-quarter earnings

Business intelligence software supplier Cognos—suddenly a subject of takeover rumors—reported double-digit increases in revenue, profits, and earnings per share for its most recent fiscal quarter. 
By MBT Staff October 11, 2007

Business intelligence software supplier Cognos —suddenly a subject of takeover rumors—reported double-digit increases in revenue, profits, and earnings per share for its second quarter of fiscal year 2008, which ended August 31, 2007.
“I am pleased with our performance in the second quarter,” says Cognos president CEO Rob Ashe. “We saw solid growth across both our Cognos 8 BI and Financial Performance Management solutions. As the independent leader in performance management, our focus is to deliver innovation and expertise for our customers. The current momentum of our solution offering reflects continued emphasis of these themes.”
Cognos revenue for the second quarter was $252.4 million, compared with $229.9 million for the same period last fiscal year—an increase of 10 percent. License revenue was $87.0 million, compared with $78.0 million in the second quarter of last fiscal year—an increase of 12 percent.
Net income on a U.S. GAAP basis in the quarter was $26.5 million, compared with $23.8 million for the same period last fiscal year—an increase of 12 percent. Earnings per diluted share (EPS) on a U.S. GAAP basis for the quarter were $0.31, compared with $0.26 for the same period last fiscal year—an increase of 19 percent.
Speculation about Cognos as a takeover target arose in the wake of SAP ’s decision early this week to purchase BI specialist Business Objects . Cognos has