DataMirror Grows Revenues in Q4, Boosts Bottom Line Even More
March 12, 2007 Timothy Prickett Morgan
High availability and data integration software maker DataMirror closed out its fiscal 2007 on January 31, and despite intense competition in its two key markets, the company was able to grow sales and grow profits even faster. DataMirror said that, for the quarter, it had $6.3 million in software licenses, up 3 percent. The company’s maintenance revenues rose 11 percent to $6.3 million, while services sales fell by 10 percent to $710,000. Total sales for the quarter came to $13.3 million, up 5.5 percent. DataMirror cut costs as it grew sales (with the exception of a small uptick in marketing and sales costs), and was able to bring $1.7 million to the bottom line, up 122 percent from a year ago. That works out to 27 cents a share, compared to 9 cents a share in the fourth quarter of fiscal 2006. “We are pleased to report record revenue and operating income in fiscal 2007,” said Nigel Stokes, DataMirror’s chief executive officer, in a statement accompanying the results. “The fourth quarter was strong, however, several significant transactions were delayed into future quarters. Business momentum continues to build for DataMirror and based on our growing business pipelines we anticipate double digit year over year revenue growth in Q1 and all of next year. Profit growth is expected to continue to be strong.” For the full fiscal 2007 year, DataMirror’s software license sales came to $18.8 million, up 3 percent, with maintenance fees up 5 percent to $24.5 million and services fees up a smidgen to $3.2 million. Overall sales grew by 4 percent to $46.5 million. DataMirror brought $4.9 million to the bottom line for the year, which works out to 66 cents a share, up 32 percent from fiscal 2006. Interestingly, DataMirror expects fiscal 2008 to be even better. For the first quarter of fiscal 2008, the company said that sales would be $11.5 million and $12.5 million, with net earnings per share of between 18 cents and 25 cents. For the full 2008 fiscal year, DataMirror is projecting that sales will be between $52 million and $55 million, which works out to a growth rate for the coming year of between 12 percent and 18 percent, and with between $1.10 and $1.35 in earnings per share expected to hit the bottom line–roughly double the profits it had this year–DataMirror will be throwing off cash. With $5.4 million in cash and $11.8 million in short-term investments that can be turned into cash, the company could start looking to do acquisitions–or find itself once again a target for an acquisition. RELATED STORIES DataMirror Unveils Transformation Server 6.0 DataMirror Offers Year-End iCluster Deal, Reports Sales and Profits Are Up Hospital Selects DataMirror for OS/400 High Availability DataMirror’s iCluster Improves in Monitoring, Performance DataMirror Claims Top Benchmark for Data Replication
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