HNC reports record-breaking second-quarter results

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HNC Software has announced revenues of $67.4 million for its second quarter ending 30 June – an increase of 20.6 per cent on the $55.9 million for the same quarter in the prior year.

“Demand for our software continues to be strong and our financial results reflect tremendous growth throughout the company,” said John Mutch, chief executive officer, HNC.

“We’ve focused on not only driving revenue growth, but increasing our recurring revenue stream which accounted for 73 per cent of the total revenue in Q2. With 41 new customers and the introduction of several new product and ASP offerings, we’ve demonstrated significant product expansion and broadened our market penetration,” added Mutch.

HNC’s Service Industries Group, comprised three divisions representing the company’s core businesses in the banking/financial, insurance/healthcare and telecommunications markets, reported second quarter revenues of $46.0 million, an increase of 38.0 per cent over revenue of $33.3 million for the second quarter of 1999.

HNC

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