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MicroStrategy Announces Third Quarter 2012 Financial Results
TYSONS CORNER, Va., Oct. 29, 2012 /PRNewswire/ -- MicroStrategy® Incorporated (Nasdaq: MSTR), a leading global provider of business intelligence (BI) software, today announced financial results for the three-month period ended September 30, 2012 (the third quarter of its 2012 fiscal year).
Third quarter 2012 revenues were $143.2 million versus $141.7 million for the third quarter of 2011, a 1% increase. Product licenses revenues for the third quarter of 2012 were $31.7 million versus $39.3 million for the third quarter of 2011, a 19% decrease. Product support and other services revenues for MicroStrategy's core BI business for the third quarter of 2012 were $104.3 million versus $96.6 million for the third quarter of 2011, an 8% increase.
Operating expenses for the third quarter of 2012 were $99.0 million versus $103.5 million for the third quarter of 2011, a 4% decrease. The decrease in operating expenses was primarily driven by a reduction in sales and marketing expense. In addition, during the third quarter of 2012, MicroStrategy capitalized $3.1 million in costs associated with the development of its MicroStrategy 9.3 software versus $0.5 million in costs capitalized during the third quarter of 2011 associated with the development of its MicroStrategy 9.2.1 software.
Net income for the third quarter of 2012 was $4.8 million, or $0.43 per share on a diluted basis, compared to $4.9 million, or $0.44 per share on a diluted basis, for the third quarter of 2011. Third quarter 2011 net income included a $3.4 million pre-tax gain on the sale of an equity investment.
"Give 'em the old Razzle Dazzle.....razzle dazzle 'em"
