Informatica Reports Record First Quarter Revenues of $135.1 Million

REDWOOD CITY, Calif., April 22, 2010 (GLOBE NEWSWIRE) -- Informatica Corporation
(Nasdaq:INFA), the world's number one independent provider of data integration
software, today announced financial results for the first quarter ended March
31, 2010.

Revenues for the first quarter of 2010 were $135.1 million, up 24 percent from
$109.1 million recorded in the first quarter of 2009. License revenues for the
first quarter were $55.0 million, up 25 percent from $44.1 million record in the
first quarter of 2009. Income from operations for the first quarter, calculated
in accordance with U.S. generally accepted accounting principles (GAAP), was
$14.9 million, which reflected the impact of $3.6 million in acquisition-related
costs. This compares to $15.0 million of GAAP income from operations in the
first quarter of 2009.

GAAP net income for the first quarter of 2010 was $11.8 million or $0.12 per
diluted share, in comparison to $11.1 million or $0.12 per diluted share in the
first quarter of 2009. For the three-month periods ended March 31, 2010 and
March 31, 2009, earnings per diluted share is calculated on an "if converted"
basis, including the add-back of $1.0 million and $1.1 million, respectively, of
interest and convertible notes issuance cost amortization, net of applicable
income taxes.

Non-GAAP income from operations for the first quarter of 2010 was $30.2 million,
up 28 percent from $23.6 million in the first quarter of 2009. Non-GAAP net
income for the first quarter of 2010 was $21.1 million or $0.21 per diluted
share, up over 16 percent from $17.1 million or $0.18 per diluted share in the
first quarter of 2009. Non-GAAP income from operations and non-GAAP net income
exclude charges and tax benefits related to the amortization of acquired
technology and intangible assets, facilities restructurings, acquisitions and
other expenses, investment gains, and stock compensation. A reconciliation of
GAAP results to non-GAAP results is included below.

"To maintain operational efficiency and to become an early beneficiary of the
economic recovery, enterprises require relevant, trustworthy, and timely data.
With our broadest-ever product portfolio, Informatica enables the data-driven
enterprise," said Sohaib Abbasi, chairman and CEO, Informatica. "Our record Q1
results are a testament to our relentless pace of innovation guided by our clear
technology vision."

Significant milestones achieved since January 2010 include:

-- Signed repeat business with 226 customers. Customers continue to derive
considerable value from their investments in Informatica solutions.
Repeat customers included Akbank, Health Management Systems, J.M.
Smucker Company, Qatar Airways, State Grid Corporation of China, and the
Veterans Benefits Administration.
-- Added 133 new customers. Informatica increased its customer base to
4,064 companies including 44 new Informatica customers and 89 customers
added through the acquisitions of Siperian and 29West. New customers
included Arizona Public Service Company, Banco Central Chile, Chicago
State University, MinSheng Life Insurance, Royal Berkshire NHS
Foundation Trust, and Ryoka Systems.
-- Acquired 29West. A pioneer in the Ultra Messaging technology category,
29West expands Informatica's addressable market with this new category
and advances Informatica's technology leadership by providing the
industry's first platform for zero-latency data delivery and data
integration.
-- Announced first comprehensive Data Integration Marketplace. Building
upon the company's robust community of more than 52,000 developers on
TechNet and over 400 partners, the marketplace will allow buyers and
sellers to share and leverage data integration solutions. The
Informatica Marketplace will offer solutions for Enterprise Data
Integration, Data Quality, B2B Data Exchange, Application Information
Lifecycle Management, Complex Event Processing, Cloud Data Integration,
Ultra Messaging, and Master Data Management.
-- Identified as a Leader in Information-as-a-Service. The Forrester
Information-as-a-Service Vendor Evaluation cited Informatica as a
"Leader" for its "good vision of data services" and continued innovation
"with strong support for data services security, performance, data
movement, administration, quality, and transformation."
-- Launched Informatica Data Archive for the Cloud. Informatica Data
Archive Cloud Store Option is the industry's first
Infrastructure-as-a-Service offering to archive database and enterprise
application data to the cloud in a cost-effective and secure manner.
-- Named Winner in Teradata 2009 Partner Impact Awards. In its inaugural
awards program, Teradata has named Informatica the winner for "Best
Partner, Accelerate Package."
-- Paul Hoffman, EVP and President, Worldwide Field Operations recognized
as Global Sales Leader in 2010 Sales & Customer Service. Hoffman was
awarded a Stevie Award in the 4th Annual Sales and Customer Service
Awards in recognition of his contributions and his exemplary operational
leadership and business acumen.

Conference Call and Webcast

Informatica will discuss its first quarter 2010 results on a conference call
today beginning at 2:00 p.m. PDT. A live Webcast of the conference call will be
available at http://www.informatica.com/investor. A replay of the call will also
be available by dialing 706-645-9291, reservation number 67177179.

About Informatica

Informatica Corporation (Nasdaq:INFA) is the world's number one independent
provider of data integration software. Organizations around the world gain a
competitive advantage in today's global information economy with timely,
relevant and trustworthy data for their top business imperatives. More than
4,000 enterprises worldwide rely on Informatica to access, integrate and trust
their information assets held in the traditional enterprise, off premise and in
the Cloud. For more information, call +1 650-385-5000 (1-800-653-3871 in the
U.S.), or visit www.informatica.com.

Non-GAAP Financial Information

To supplement Informatica's condensed consolidated financial statements prepared
and presented on a GAAP basis, Informatica uses non-GAAP financial measures of
income from operations, net income and net income per share. These measures are
adjusted from income from operations, net income or net income per share
prepared in accordance with GAAP to exclude the charges and expenses discussed
above. The presentation of these non-GAAP financial measures are not meant to be
considered in isolation or as a substitute for, or superior to, net income or
net income per share prepared in accordance with GAAP.

Informatica believes the disclosure of such non-GAAP financial measures is
appropriate to enhance an overall understanding of its financial performance,
its financial and operational decision making, and as a means to evaluate period
to period comparisons. These adjustments to the Company's GAAP results are made
with the intent of providing both management and investors a more complete
understanding of Informatica's performance, by excluding certain expenses and
expenditures such as non-cash charges and discrete charges that are infrequent
in nature, such as charges related to acquisitions, that may not be indicative
of its underlying operating results. In addition, Informatica believes these
non-GAAP financial measures are useful to investors because they allow for
greater transparency into the indicators used by management as a basis for its
financial and operational decision making. Informatica believes that the
disclosure of these non-GAAP financial measures provides consistency and
comparability of its recent financial results with its historical financial
results, as well as to the operating results of similar companies in
Informatica's industry, many of which present similar non-GAAP financial
measures to investors. As an example, Informatica believes that it enhances
comparability with similar companies' operating results by excluding stock
compensation in its non-GAAP financial measures because of the different types
of stock-based awards that companies may grant and because ASC 718 allows
companies to use different valuation methodologies and subjective assumptions.
In addition, Informatica believes that both management and investors benefit
from referring to these non-GAAP financial measures when planning, analyzing and
forecasting future periods.

There are a number of limitations related to these non-GAAP financial measures:
(1) the non-GAAP measures exclude some costs that are recurring, particularly
stock compensation, and we believe that stock compensation will continue to be a
significant recurring expense for the foreseeable future; because stock
compensation is an important part of our employees' compensation, such payments
can impact their performance; and (2) the items we exclude in our non-GAAP
measures may differ from the components our peer companies exclude when they
report their non-GAAP measures. Management compensates for these limitations by
providing specific information regarding the GAAP amounts excluded from non-GAAP
measures and evaluating non-GAAP measures together with the corresponding
measures calculated in accordance with GAAP.

Forward Looking Statements

This press release contains forward-looking statements relating to Informatica's
opportunity for growth in the data integration market, Informatica's integration
of 29West, and expected benefits to our customers and products. Such statements
involve risks and uncertainties, and actual results may differ materially from
the results described in this press release. The potential risks and
uncertainties that could cause actual results to differ include, among others,
risks related to (1) competition with larger companies that have longer
operating histories and greater financial, technical, marketing, and other
resources; (2) uncertainty in the state of IT spending and the continued growth
in the market for data integration solutions in general; and (3) successful
integration of Siperian's and 29West's products and employees and achievement of
expected synergies. Additional risks and uncertainties are included under the
caption "Risk Factors" in Informatica's report on Form 10-K for the year ended
December 31, 2009 which is on file with the SEC and is available on the
Company's investor relations website at http://www.informatica.com. All
information provided in this release is as of April 22, 2010 and Informatica
undertakes no duty to update this information.

Note: Informatica and Informatica Data Archive Cloud Store Option are trademarks
or registered trademarks of Informatica Corporation in the United States and in
jurisdictions throughout the world. All other company and product names may be
trade names or trademarks of their respective owners.

INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
(unaudited)

Three Months Ended
March 31,
--------------------

2010 2009
--------- ---------

Revenues:
License $ 55,047 $ 44,059

Service 80,083 64,999
--------- ---------

Total revenues 135,130 109,058
--------- ---------

Cost of revenues:
License 965 748
Service 23,057 18,472
Amortization of acquired
technology 2,772 1,557
--------- ---------

Total cost of revenues 26,794 20,777
--------- ---------

Gross profit 108,336 88,281
--------- ---------

Operating expenses:
Research and development 23,578 18,183
Sales and marketing 51,419 41,438
General and administrative 11,408 10,806
Amortization of intangible
assets 2,710 2,051
Facilities restructuring
charges 656 809

Acquisitions and other 3,649 --
--------- ---------

Total operating expenses 93,420 73,287
--------- ---------
Income from operations 14,916 14,994
Interest income and other,
net 1,351 886
--------- ---------
Income before income taxes 16,267 15,880

Income tax provision 4,473 4,821
--------- ---------

Net income $ 11,794 $ 11,059
========= =========

Basic net income per common
share $ 0.13 $ 0.13
========= =========
Diluted net income per common
share (1) $ 0.12 $ 0.12
========= =========

Shares used in computing
basic net income per common
share 90,748 86,862
========= =========
Shares used in computing
diluted net income per
common share 107,374 100,430
========= =========

-------------------------------------
(1) Diluted EPS is calculated under the "if
converted" method for the three months ended March
31, 2010 and 2009. This includes the add-back of
interest and convertible notes issuance cost
amortization, net of applicable income taxes of
$1.0 million and $1.1 million for the three months
ended March 31, 2010 and 2009, respectively.

INFORMATICA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

December
March 31, 31,
2010 2009
------------ ----------
(unaudited)
Assets

Current assets:
Cash and cash equivalents $ 152,024 $ 159,197
Short-term investments 202,438 305,283
Accounts receivable, net of
allowances of $4,236 and
$3,454, respectively 77,757 110,653
Deferred tax assets 26,478 23,673
Prepaid expenses and other
current assets 20,447 15,251
------------ ----------
Total current assets 479,144 614,057

Property and equipment, net 7,967 7,928
Goodwill and intangible
assets, net 493,016 350,654
Long-term deferred tax assets 25,301 8,259

Other assets 7,392 8,724
------------ ----------

Total assets $ 1,012,820 $ 989,622
============ ==========

Liabilities and stockholders'
equity

Current liabilities:
Accounts payable and other
current liabilities $ 88,101 $ 96,113
Accrued facilities
restructuring charges 19,904 19,880
Deferred revenues 145,235 139,629

Convertible senior notes 201,000 --
------------ ----------
Total current liabilities 454,240 255,622

Convertible senior notes -- 201,000
Accrued facilities
restructuring charges, less
current portion 29,833 32,845
Long-term deferred revenues 4,044 4,531
Long-term deferred tax
liabilities -- 516
Long-term income taxes payable 11,695 11,995

Stockholders' equity 513,008 483,113
------------ ----------
Total liabilities and
stockholders' equity $ 1,012,820 $ 989,622
============ ==========

INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)

Three Months Ended
March 31,
----------------------

2010 2009
---------- ----------

Operating activities:
Net income $ 11,794 $ 11,059
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 1,829 1,353
Gain on sale of investment in equity
interests (1,824) --
Gain on early extinguishment of debt -- (337)
Stock compensation 5,482 4,199
Deferred income taxes (632) (1,469)
Tax benefits from stock compensation 4,189 672
Excess tax benefits from stock
compensation (3,325) (397)
Amortization of intangible assets and
acquired technology 5,482 3,608
Non-cash facilities restructuring charges 656 809
Other non-cash items (6) 610
Changes in operating assets and
liabilities:
Accounts receivable 42,162 23,730
Prepaid expenses and other assets 2,403 (3,612)
Accounts payable and other current
liabilities (20,317) (20,499)
Income taxes payable (5,276) 665
Accrued facilities restructuring charges (3,604) (3,219)

Deferred revenues 2,776 (4,291)
---------- ----------
Net cash provided by operating
activities 41,789 12,881
---------- ----------
Investing activities:
Purchases of property and equipment (1,300) (577)
Purchases of investments (42,569) (146,227)
Purchase of investment in equity interest (1,500) --
Sale of investment in equity interest 4,824 --
Maturities and sales of investments 145,365 129,945
Business acquisitions, net of cash
acquired (167,384) (32,976)
---------- ----------

Net cash used in investing activities (62,564) (49,835)
---------- ----------
Financing activities:
Net proceeds from issuance of common
stock 13,785 6,967
Repurchases and retirement of common
stock -- (5,910)
Withholding taxes related to restricted
stock units net share settlement (1,108) --
Repurchases of convertible senior notes -- (19,200)
Excess tax benefits from stock
compensation 3,325 397
---------- ----------
Net cash provided by (used in)
financing activities 16,002 (17,746)
---------- ----------
Effect of foreign exchange rate changes on
cash and cash equivalents (2,400) (1,825)
---------- ----------
Net decrease in cash and cash equivalents (7,173) (56,525)
Cash and cash equivalents at beginning of
period 159,197 179,874
---------- ----------

Cash and cash equivalents at end of period $ 152,024 $ 123,349
========== ==========

INFORMATICA CORPORATION
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)

Three Months Ended
March 31,
----------------------

2010 2009
---------- ----------

Total revenues $ 135,130 $ 109,058
========== ==========

Operating income:

GAAP operating income $ 14,916 $ 14,994

Percentage of GAAP operating income to
total revenues 11% 14%

Plus:
Amortization of acquired technology -
Cost of revenues 2,772 1,557
Amortization of intangible assets -
Operating expenses 2,710 2,051
Facilities restructuring charges -
Operating expenses 656 809
Acquisitions and other - Operating
expenses 3,649 --
Stock compensation - Cost of revenues 662 531
Stock compensation - Research and
development 1,609 1,118
Stock compensation - Sales and
marketing 1,773 1,367
Stock compensation - General and
administrative 1,438 1,183
---------- ----------

Non-GAAP operating income $ 30,185 $ 23,610
========== ==========

Percentage of Non-GAAP operating income to
total revenues 22% 22%

Net income:

GAAP net income $ 11,794 $ 11,059

Plus:
Amortization of acquired technology -
Cost of revenues 2,772 1,557
Amortization of intangible assets -
Operating expenses 2,710 2,051
Facilities restructuring charges -
Operating expenses 656 809
Acquisitions and other - Operating
expenses 3,649 --
Stock compensation - Cost of revenues 662 531
Stock compensation - Research and
development 1,609 1,118
Stock compensation - Sales and
marketing 1,773 1,367
Stock compensation - General and
administrative 1,438 1,183
Gain on sale of investment in equity
interest (1,824) --

Income tax adjustments (4,169) (2,542)
---------- ----------

Non-GAAP net income $ 21,070 $ 17,133
========== ==========

Diluted net income per share: (1)

Diluted GAAP net income per share $ 0.12 $ 0.12

Plus:
Amortization of acquired technology 0.03 0.02
Amortization of intangible assets 0.03 0.02
Facilities restructuring charges 0.01 0.01
Acquisitions and other 0.03 --
Stock compensation 0.05 0.04
Gain on sale of investment in equity
interest (0.02) --

Income tax adjustments (0.04) (0.03)
---------- ----------

Diluted Non-GAAP net income per share $ 0.21 $ 0.18
========== ==========

Shares used in computing diluted Non-GAAP
net income per share 107,374 100,841
========== ==========

-------------------------------------
(1) Diluted EPS is calculated under the "if converted" method
for the three months ended March 31, 2010 and 2009. This includes
the add-back of interest and convertible notes issuance cost
amortization, net of applicable income taxes of $1.0 million and
$1.1 million for the three months ended March 31, 2010 and 2009,
respectively.

CONTACT: Informatica Corporation
Corporate Communications
Debbie O'Brien
+ 1 650 385 5735
dobrien@informatica.com
Investor Relations
Stephanie Wakefield
+1 650 385 5261
swakefield@informatica.com