Actuate Corporation Posts Solid Earnings (ACTU)

Actuate Corporation

reports Q2 earnings of $0.05 versus estimates of $0.08. Actuate Corporation reports Q2 revenues of $30.3 million versus estimates of $31.32 million. Revenues increased 6.1% year over year. The company also reported Q2 license revenues of $10.0 million, up 18% year-over-year, non-GAAP operating margins of 13%, and booked transactions greater than $100,000 with 60 customers during Q2, versus 52 in Q1 2010 and 57 a year ago. "Free BIRT open source downloads led to over one million dollars worth of BIRT business with minimal sales and marketing involvement this quarter," said Pete Cittadini, President and CEO of Actuate. "BIRT has expanded our OEM channel, taken us into new verticals and broadened our customer base. These trends are impressive, and BIRT is proving to be a cost effective sales channel." Shares of ACTU are bid lower in the after-hours.