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BMC Software 3Q profit rises 10 percent

Wed, 02/01/2012 - 2:05pm
The Associated Press

Business software company BMC Software Inc. said Wednesday its profit grew 10 percent in the fiscal third quarter on greater maintenance and professional service revenue.

Over the three months ended Dec. 31, BMC said its profit increased to $119.9 million, or 71 cents per share, from $109.1 million, or 60 cents per share. Excluding one-time items, BMC said its profit rose to 93 cents per share. Revenue rose 2 percent, to $548.2 million from $539.9 million.

Analysts were forecasting a profit of 82 cents per share and revenue of $556.8 million, according to estimates compiled by FactSet.

BMC said its license revenue fell 4 percent to $225 million, but maintenance revenue rose 5 percent to $272.3 million and professional service revenue grew 11 percent to $50.9 million.

The company raised its profit forecast for the full year, saying it now expects adjusted income of $3.26 to $3.34 per share for the fiscal year ending in March. That estimate includes about 4 cents per share in charges related to its planned acquisition of Numara Software, and it excludes about 90 to 95 cents per share in one-time charges. BMC previously forecast an adjusted profit of $3.21 to $3.31 per share.

The company agreed to buy Numara, which provides information technology management services, on Monday. BMC says the deal will cost about $300 million and the purchase should be completed during the fiscal fourth quarter.

BMC still expects its full-year revenue to grow in the mid-single digits from the $2.07 billion it reported in fiscal 2011.

Analysts are forecasting a profit of $3.24 per share and $2.19 billion in revenue, which implies revenue growth of 6 percent.

Shares of BMC Software fell 40 cents to $35.86 Wednesday, and rebounded 29 cents to $36.15 in aftermarket trading following the release of the earnings report.

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