Informatica total revenues up 4 percent to $261.9 million and up 10 percent on a constant currency basis

Bangalore, India, July 31, 2015: Informatica Corporation has announced financial results for the second quarter ended June 30, 2015.

“Our business model evolution is progressing well with year-over-year growth of 44%, on a constant currency basis, for subscriptions that now represent 20% of software revenue,” said Sohaib Abbasi, chairman and chief executive officer, Informatica. “Our team continues to deliver transformative innovations for our customers.  At our largest-ever Informatica World event, we showcased the latest innovations for cloud integration, social MDM, data integration for next generation analytics and data security.”

Financial Highlights for the Second Quarter Ended June 30, 2015

Total revenues for the second quarter of 2015 were $261.9 million, up 4 percent year-over-year and up 10 percent on a constant currency basis. Software revenues were $110.8 million, up 7 percent year-over-year and up 13 percent on a constant currency basis. Within software revenues, license revenues were $88.3 million, up 1 percent year-over-year and up 7 percent on a constant currency basis and subscription revenues were $22.5 million, up 39 percent year-over-year and up 44 percent on a constant currency basis. Using currency exchange rates from the second quarter of 2014, total revenues would have been $15.0 million higher, license revenue would have been $5.2 million higher, subscription revenue would have been $0.8 million higher and software revenue would have been $6.0 million higher.

Income from operations for the second quarter of 2015, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was $29.5 million, down 13 percent from the second quarter of 2014 due to $8.8 million in costs  incurred related to the pending acquisition of Informatica, with $6.6 million paid during the three months ended June 30, 2015.

GAAP net income for the second quarter of 2015 was $18.9 million, down 17 percent from the second quarter of 2014, and GAAP net income per diluted share was $0.18, down 10 percent from the second quarter of 2014.

Non-GAAP income from operations for the second quarter of 2015 was $57.0 million, up 4 percent from the second quarter of 2014. Non-GAAP net income for the second quarter of 2015 was $39.8 million, up 3 percent from the second quarter of 2014 and non-GAAP net income per diluted share was $0.37, up 6 percent from the second quarter of 2014. These non-GAAP results exclude charges and tax benefits related to the amortization of acquired technology and intangible assets, acquisition and other charges, stock-based compensation, gain on an investment in an equity interest, gain on foreign currency impacts of hedging foreign cash repatriation, and income tax expense related to current plans to not indefinitely reinvest undistributed earnings of foreign subsidiaries. A reconciliation of GAAP results to non-GAAP results is included below.

Deferred revenue as of June 30, 2015 was $349.3 million, up from $310.8 million as of June 30, 2014. Using currency exchange rates from the second quarter of 2014, deferred revenue would have been $20.7 million higher, and growth would have been 19 percent in the second quarter of 2015.

Additional Highlights since April 2015:

• Hosted 16th annual Informatica World Conference. Informatica’s largest-ever data management event focused on “All Things Data” featured more than 2,500 attendees and the highest number ever of presentations by customers, signifying that Informatica is becoming a more strategic partner to our customers.
• Showcased key innovations in the Informatica Intelligent Data Platform (IDP) to integrate, prepare, master and secure data. Informatica’s innovation momentum continues with product releases in cloud data integration, big data integration, MDM, data preparation and data security.
• Honored the winners of the 2015 Informatica Innovation Awards, which recognize data-centric organizations that have demonstrated leadership in using Informatica solutions to help drive innovation and business advantage. The winners were honored in six categories: Analytics (Winner: Johnson & Johnson), Application Consolidation (Winner: Depository Trust and Clearing Corporation), Cloud Modernization (Winner: BT), Data Governance (Co-winners: Cleveland Clinic and The World Bank Group), Total Customer Relationship (Winner: Hyatt Hotels & Resorts) and Architectural Platform (Winner: Fidelity Investments).
• Extended Informatica Master Data Management with Total Supplier Relationship (TSR) Application for end-to-end management of information about suppliers and products they supply.
• Showcased the Intelligent Data Platform for operationalizing Hadoop projects in the Big Data Ready Enterprise. At the 2015 Hadoop Summit, Informatica demonstrated its big data management, big data governance, big data mastering and big data security capabilities for delivering more timely and trusted data on Hadoop.
• Rated a “Hot Vendor” in the Ventana Research 2015 Product Information Management Value Index. Informatica was identified as a “Current Leader” and “New Market Force” in Product Information Management.
• Obtained stockholder approval for the acquisition by the Permira Funds and the Canada Pension Plan Investment Board. The transaction is expected to be completed in the third quarter of 2015, subject to the receipt of certain regulatory approvals and the satisfaction of other customary closing conditions.

Informatica will not be holding an earnings conference call to discuss its second quarter 2015 results.

© Technuter.com News Service