MapInfo reports increase in its third quarter earnings

MapInfo reports increase in its third quarter earnings

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MapInfo Corporation has recently reported earnings per share of $0.13 for the third fiscal quarter ended June 30, 2005, representing a 63 percent increase over the $0.08 reported for the same period last year and the ninth consecutive quarter of year-over-year earnings per share growth for the company. MapInfo is a global company and provider of Location Intelligence solutions. Revenues for the third quarter grew 21 percent to $38.9 million versus $32.1 million for the same quarter last year. Operating income reached $4.2 million, the highest level in the company’s history, rising 25 percent over last year’s operating income of $3.4 million. Net income increased 68 percent to $2.7 million compared to net income of $1.6 million for the third quarter of fiscal 2004.

Cash and investments stood at $69.3 million as of June 30, 2005; cash from operations grew by $4.8 million during the quarter and $10.4 million during the first nine-months of fiscal 2005. Total deferred revenue grew to $19.8 million at the end of the third quarter. The company anticipates fourth quarter revenue in the range of $39 million to $41 million bringing the full fiscal year revenue guidance to $148 million to $150 million. In addition, the company anticipates fourth quarter earnings per share of $0.13 to $0.15 bringing the fiscal year earnings per share guidance to $0.43 to $0.45.