Guideware Software Up 17% After Beating Earnings Estimates
Guideware Software (NYSE: GWRE) is up 17% after the company beat earnings estimates.
Total revenue for the second fiscal quarter ended January 31, 2012 was $55.1 million, an increase of 30% from the comparable period in fiscal 2011.
License revenue for the second quarter of fiscal 2012 was $25.7 million, up 29% from the year ago period, maintenance revenue was $6.8 million, up 31% from the year ago period, and services revenue was $22.6 million, up 32% from the year ago period.
Trailing 12-month total revenue at the end of the second fiscal quarter was $202.9 million, up 26% on a year-over-year basis.
“We are pleased with the company's performance during the second quarter of fiscal 2012, which contributed to revenue and profitability that were above our expectations. We continue to see momentum across all three of our main application offerings, including sales to both new and existing customers,” said Marcus Ryu, Chief Executive Officer of Guidewire Software. “We believe we are still in the early stages of property and casualty insurers replacing their decades-old software, and Guidewire is well positioned to respond to this growing demand with our integrated software suite of next-generation policy, billing and claims applications.”
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