CommVault 1Q net income up 33 pct.
CommVault posts 33 pct. increase in fiscal 1Q net income on demand for software platform
OCEANPORT, N.J. (AP) -- CommVault Systems Inc. said Tuesday that its fiscal first-quarter net income rose 33 percent, boosted by strong demand for its data and information management software platform.
For the quarter ended June 30, the OceanPort, N.J.-based company earned $13.5 million, or 27 cents per share, up from $10.1 million, or 21 cents per share, in the same quarter of 2012.
Excluding one-time charges, the company posted an adjusted profit of 40 cents per share.
Revenue rose 21 percent to $134.4 million, as software and services revenue increased.
The results beat Wall Street predictions. Analysts, on average, expected a profit of 34 cents per share on $132.2 million in revenue, according to FactSet.
CommVault credited the jump in revenue to continued demand for its Simpana 10 data and information management software platform, along with strong results from its services division.
Software revenue rose 20 percent to $65.3 million, while services revenue increased 21 percent to $69.1 million.
In afternoon trading, CommVault shares rose $8.02, or 10.3 percent, to $85.59 after peaking at $87 earlier in the session. Over the past 52 weeks, the company's shares have traded between $47.70 and $88.14.
