The Houston, Texas-based company reported revenue up 9% at $349.6m and net income of $12.1m, compared to a loss of $94.5m on revenue of $321m in the same quarter last year. The Remedy business added $25m to BMC’s revenue in the six weeks since its acquisition on November 21, and reflected expenses of $15.3m in the same period. Excluding revenue from Remedy, BMC’s revenue was up just 1% in the quarter.
Excluding special item charges of $22.9m relating to the Remedy acquisition, such as amortization of acquired technology and intangibles, the company recorded net income of $34.6m, or $0.15 per share, outstripping estimates of between $0.07 and $0.10 per share.
For the nine months, the company reported revenue down 8% at $424.9m from $463.8m in the first three quarters of last year. Net income of $27.4m is a vast improvement on the $182.3m net loss recorded in the first nine months of last year, however.
Looking ahead, the company said that fourth-quarter revenue would be between $374m and $387m with expenses, excluding special items, between $340m and $350m. The company expects to take a special charge of about $24m for the amortization of intangibles in the quarter.
The company has also upped its estimates for full-year diluted earnings per share. BMC now expects diluted earnings per share to be between $0.46 and $0.49, compared to the previous estimate of between $0.32 and $0.39.
Source: Computerwire
