MSTR Under LA Pressure as Brazil suffering budget crunch
Microstrategy revenue up 15% 4/13/2004
BNamericas.com via COMTEX) -- US corporate software provider MicroStrategy (MSTR) has posted revenue of US$12mn for 2003 in Latin America, up 15% compared to 2002, MicroStrategy regional director Juan Bargagna told BNamericas. The company expects to repeat the 15% growth again this year, both globally and in Latin America. Last year's regional turnout was equivalent to 7% of global revenues. Growth this year will come in part from a more mature operation in Mexico, where the company launched last year, and an increasingly stable economy in Argentina. The company also expects to reap the fruit of its increased partnerships with local and international software providers that create software based on MicroStrategy's business intelligence platform, Bargagna added. MicroStrategy plans to have a complete suite of products based on open-source standards Linux and Unix by year-end, according to Bargagna. Previously, its software only ran on Microsoft's Windows operational system. Demand for open-source solutions comes mainly from the Brazilian government, which provides 25% of the company's revenue in that market.