Cognos’ e-business drives record Q2 performance

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Cognos results for the second quarter of 2001 have set a new record at $118.2 million, a 34% increase over the same period last year; revenue in local currency increased by 39%.

Pretax income was a record at $22.9 million, while net income was $16.5 million or 18 cents per share. This compares with pretax income of $17.8 million and net income of $12.8 million or 15 cents per share in the second quarter of the prior year.

“These results demonstrate the vibrancy of the business intelligence market overall and the sustained momentum of Cognos’ business throughout the world,” said president Ron Zambonini. “We define ourselves as a customer-focused, product-rich company, and we leverage these values through four key assets that are unmatched within our peer group of competitors: an experienced and highly focused field force of some 1,350 customer-facing personnel; a world-class R&D team, 700 strong; a loyal customer base of more than 15,000 major customers throughout the world; and more than $1 billion of business intelligence products sold worldwide, which will provide a solid annuity base for future revenue.

“The Cognos BI product platform is targeted at the sweet spot of today’s business intelligence market – enterprise-scale deployments for intranets and business-to-business extranets.

“The number of transactions exceeding $50,000 climbed by 42% compared with a year ago. These included orders from leading corporations such as General Electric, Qwest, Citigroup, Xerox, Johnson & Johnson, Caterpillar, and Michelin.

“More than a year ago we made the decision to invest in key resource areas, such as sales, support, and other customer-facing functions, as well as R&D. We did this to capitalize on the opportunity afforded the market leader in such a robust market. We believe that we are starting to gain leverage from these investments through sales momentum and increased market share.

“We are pleased to achieve such strong momentum in the second quarter and through the first half of the fiscal year,” concluded Zambonini. “The outlook for the e-business intelligence market has never been better.”

Cognos

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