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MicroStrategy Closes First Quarter With Earnings Spike
The company credits acceptance of its MicroStrategy Report Services enterprise reporting tool and a slate of new customer deals for its first-quarter performance.
Business intelligence software maker MicroStrategy reported first-quarter earnings of $10.4 million on sales of $49.1 million, up from a profit of $665,000 and a topline of $37.4 million in the same timeframe last year.
The company credited acceptance of its MicroStrategy Report Services enterprise reporting tool for its first-quarter performance. MicroStrategy added or expanded deals with 156 customers in the first three months of 2004, including Ace Hardware, Meijer Stores, Fraser Health and CSK Auto.
MicroStrategy's performance follows a slate of healthy first-quarter results for data management and business intelligence software makers. Last week, Ascential, Hyperion and Informatica all reported sales and earnings gains.
McLean, Va.-based MicroStrategy expects total revenue for 2004 to fall between $190 million and $200 million, compared with sales of $176 million last year.
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