Informatica sees revenue above estimates, shares rise
(Reuters) - Data-integration software maker Informatica Corp (INFA.O) forecast current-quarter revenue largely above analysts' estimates as growth returned to its European markets.
Shares of the company were up 9 percent in extended trading, after closing at $33.24 on Thursday on the Nasdaq.
Informatica, which makes software to help companies pull together data to analyze business trends, forecast first-quarter adjusted earnings of between 29 cents and 32 cents on revenue of $196 million to $206 million.
Analysts on average were expecting earnings of 31 cents per share on revenue of $197.1 million, according to Thomson Reuters I/B/E/S.
Although there was demand in Europe, the company had not been able to pursue business there in the past few quarters, Chief Executive Sohaib Abbasi said on a conference call with analysts.
The company said it had a "solid quarter" in Europe, reflecting better sales execution and operational discipline.
Weak performance in Europe had dragged down the company's third-quarter results in October.
The company said it signed on customers such as Facebook Inc (FB.O) and online restaurant reservation provider OpenTable Inc (OPEN.O) in the fourth quarter.
Net income fell to $31.1 million, or 28 cents per share, from $42.4 million, in the fourth quarter, or 38 cents per share, a year earlier.
Excluding items, the company earned 41 cents per share.
Revenue rose to $234.7 million from $227 million a year earlier.
Analysts on average were expecting earnings of 37 cents per share on revenue of $217.5 million.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Supriya Kurane)
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