Actuate Corporation provides a platform for retrieving business information from corporate databases and delivering interactive Web pages and Excel spreadsheets to customers, partners and employees. Its infrastructure software is the foundation for applications such as client reporting, financial reporting, executive dashboards, business analytics, and e-billing. 

http://www.actuate.com

Third Quarter Financial and Operational Highlights:

Record non-GAAP revenue of $40.5 million, up 38% year-over-year; 
Q3 license revenues of $17.8 million, up 106% year-over-year; 
Record non-GAAP operating margins of 36%; 
Record non-GAAP diluted EPS of $0.23, up 156% year-over-year; 
Year-to-date operating cash flow of $19.0 million, up 63% year-over-year; 
Over $5.1 million in BIRT-related business for Q3; up 8% over the prior year, year-to-date BIRT-related license business up over 50%; 
Booked more than 140 BIRT-related transactions in Q3, bringing the total since beginning of 2008 to over 1,200; 
Q3 revenue included three transactions with a license component in excess of $1.0 million. 
“We had a solid third quarter, with many positives to highlight across the business, including a positive resolution with IBM and continued BIRT momentum,” said Pete Cittadini, President and CEO of Actuate. “BIRT is recognized as a Leader in open source BI. There are now over one million BIRT developers worldwide and we passed the 10 million BIRT downloads mark.” 
 

Actuate Reports Third Quarter 2009 Financial ResultsPosts Record Quarterly BIRT Business of $4.7 Million; Non-GAAP EPS of $0.09 for the Quarter and Up 65% Year-To-Date

SAN MATEO, Calif.- October 29, 2009 -Actuate Corporation (NASDAQ: ACTU) the people behind BIRT™, today announced financial results for the third quarter of 2009.
 

Third Quarter 2009 Financial and Operational Highlights:
 

Fully diluted non-GAAP EPS of $0.09 
Revenues of $29.4 million 
License revenues of $8.6 million 
Non-GAAP Operating margins of 21.3% 
Total cash, cash equivalents and investments of $70.3 million, after $10 million stock repurchase 
Booked transactions greater than $100,000 with 55 customers 
Closed two transactions with a license component in excess of $1.0 million 
“While there is emerging consensus that the global economy is on the mend, companies remain cautious about their IT spending,” said Pete Cittadini, President and CEO of Actuate. "We continue to focus on our open source and BIRT strategic initiatives and on growing the adoption of BIRT-related Rich Information Applications, which we believe create differentiation for Actuate in the marketplace. We are pleased to see that this quarter marked a record for BIRT related business, which continues to indicate that our BIRT strategy is working.”

Revenues for the third quarter of 2009 were $29.4 million, compared with $33.7 million in the third quarter of 2008. License revenues for the third quarter of 2009 were $8.6 million, compared with $10.0 million in the year-ago quarter. Maintenance revenues for the quarter were $19.4 million, compared with $20.4 million reported in the same quarter last year. Professional services revenues for the third quarter of 2009 totaled $1.4 million, compared with $3.3 million in the third quarter of 2008.

Operating income, as reported in accordance with U.S. generally accepted accounting principles (GAAP), was $4.3 million for the third quarter of 2009, compared with $3.4 million in the third quarter of 2008. Net income for the third quarter of 2009, as reported in accordance with U.S. generally accepted accounting principles (GAAP), was $3.1 million, or $0.06 per diluted share, compared with net income of $3.1 million or $0.05 per diluted share in the third quarter of 2008.

Cash used in operations was $1.4 million for the third quarter of 2009. Cash, cash equivalents and investments totaled $70.3 million on September 30, 2009 compared with $58.4 million as of December 31, 2008. For the nine months ended September 30, 2009, cash flow from operations totaled $11.7 million. During the third quarter, the company successfully completed a $10 million stock repurchase program.

Non-GAAP net income for the third quarter of 2009 was $4.4 million, or $0.09 per diluted share, compared with non-GAAP net income of $5.3 million, or $0.08 per diluted share in the third quarter of 2008. Non-GAAP operating margin for the third quarter of 2009 was 21.3%, compared with 20.6% in the same period last year. For the nine months ended September 30, 2009, non-GAAP operating margins were 20.3% compared with 15.8% in the same period last year.