Vantive, i2 Technologies, Check Point Software, Tangram Enterprise Solutions, Sequent Computer Systems, and Open Market all posted earnings yesterday for the period ended Sept. 30.
ERP supplier i2 Technologies Inc. had a record third quarter, posting $94.2 million in revenue, a 62% growth from $58.1 million for the period last year. Net income was $7.2 million and 10 cents per share, beating analysts' estimated 9 cents per share and doubling last year's net income of $3.3 million and 5 cents per share. Strong growth came from i2's vertical-industry high-tech, consumer packaged goods, and automotive business units, which were established in the second quarter.
Check Point Software's virtual private network tools and open policy-management framework led the security vendor to a strong third quarter. Revenue was $35 million, up 51% over the $23 million for the same period in 1997. Net income was $17 million, up 41% from $12 million last year. Earnings per share beat analysts' expected 39 cents, coming in at 45 cents, up 45% from last year's 31 cents.
Sales-force automation vendor Vantive Corp. yesterday disclosed third-quarter earnings with revenue of $41.7 million, an increase of 34% from last year's third- quarter revenue of $31.1 million. Net income, including a charge for the acquisition of Wayfarer Inc., climbed to $962,000, meeting Wall Street's anticipated 4 cents per share from last year's net loss of $17.4 million and 71 cents per share.
Sequent Computer Systems broke even for its third quarter, beating the street's expected loss of 3 cents per share. Revenue for the period fell to $201 million from last year's $207 million, while net income was $38,000 and zero cents per share, down drastically from last year's income of $10.3 million and 24 cents per share. Loss of business from Boeing this quarter hurt Sequent tremendously.
Open Market, an Internet-commerce software company, saw revenue of $14.4 million for its third quarter, down from year-ago revenue of $15.5 million. Net losses increased year over year for the quarter, to $6.6 million for 1998 from $6.4 million last year, though loss per share was 19 cents, improved over last year's loss of 20 cents per share, which is what analysts had expected the company to report again. The company pointed to falling CD-ROM based software sales, losses in the Asian/Pacific rim, and shortcomings in its sales organization as reasons for the disappointing results.
Asset-tracking software vendor Tangram Enterprise Solutions reported third-quarter revenue of $5.7 million, up 50% from $3.8 million for the same period in 1997. Net income for the quarter--$343,000, or 2 cents per share--was up from last year's net loss of $740,000 or 5 cents per share. The company's flagship asset-tracking software, Asset Insight, saw a revenue gain of 247% for the quarter.