Informatica Profit Falls On Costs, But Meets View; Stock Down 9% - Quick Facts

(RTTNews) - Informatica Corp. (INFA), a provider of data integration software, Thursday reported a lower second-quarter net income at $18 million or $0.16 per share, compared with $20 million or $0.18 per share last year.

Excluding amortization costs and other items, adjusted earnings for the quarter were higher at $34 million or $0.31 per share, compared with $32 million or $0.29 per share a year ago.

Revenues for the quarter were up 17% at $222.4 million, compared with $190.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.31 per share on revenues of $220.68 million for the quarter. Analysts' estimates typically exclude special items.

Results were impacted by an increase in operating expenses to $152 million from $124 million last year, reflecting higher research and selling overheads.

Looking ahead, the company said prospects for the future appear bright.

The company's stock closed Thursday at $39.20, up $0.74 or 1.92%, on a volume of 2.4 million shares on the Nasdaq. In after hours, the stock dropped $3.45 or 8.80%.