Informatica Reports Record First Quarter Revenues Of $58.4 Million
Achieves Net Income Growth of 128%
REDWOOD CITY, Calif.,
April 21, 2005—Informatica Corporation (NASDAQ: INFA), a leading provider of enterprise data integration software, today announced financial results for the first quarter ended March 31, 2005.
Revenues for the first quarter of 2005 were $58.4 million, up from the $54.2 million recorded in the first quarter of 2004. Net income for the first quarter, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was $4.3 million or $0.05 per diluted share, compared with net income of $1.9 million or $0.02 per diluted share in the first quarter of 2004. Pro forma net income for the first quarter of 2005 was $6.4 million or $0.07 per diluted share, up from $3.2 million or $0.04 per diluted share in the first quarter of 2004. Pro forma operating results discussed in this press release exclude charges related to the facilities restructurings and the amortization of acquired technology, intangible assets and stock-based compensation. A reconciliation of pro forma operating results and GAAP results is included in the financial statements attached below.
“The sustained record results reflect well on the improvements we implemented over the last three quarters,” said Sohaib Abbasi, president and CEO of Informatica. “Guided by our focused strategy, we delivered the most unified, open and comprehensive data integration product, PowerCenter Advanced Edition. Our innovative product roadmap extends our technology leadership by best addressing the current and emerging requirements of our customers.”
Significant milestones achieved in the first quarter of 2005 include:
- Signed repeat business with 132 customers. Customers continue to derive significant value from their selection of Informatica solutions. Repeat customers included ABN AMRO Bank, Campbell Soup Company, Circuit City, Cisco, KPN Telecom, FedEx, Forest Pharmaceuticals, General Electric, MetLife, Michelin, New York Times, Ohio Department of Education, and Procter & Gamble.
- Signed 44 new customers. Informatica increased its customer base this quarter to 2,216 companies. New customers included Cancer Care Ontario, the New York Police Department, Samsung Electronics, the School Board of Miami-Dade County, Taylor Corp., and TxB Transaktionsbank.
- Unveiled strategic technology roadmap. Informatica outlined its long-term plan for delivering the broadest array of enterprise data integration capabilities for companies’ data-centric initiatives within one platform. Informatica’s product strategy is planned to be delivered in three major releases over the next two years, the first of which was delivered with the launch of PowerCenter Advanced Edition.
- Introduced PowerCenter Advanced Edition. Re-defining the requirements for enterprise data integration, Informatica introduced a new edition that combines PowerCenter data integration software with metadata-analysis capabilities, data-ready reporting functionality and key deployment-flexibility options—all on one platform and installable in under one hour. Delivering the industry’s most comprehensive set of data integration capabilities, PowerCenter Advanced Edition can help accelerate customers’ time-to-value and address a broadening range of complex data integration projects.
- Launched PowerCenter for Mainframe. To help companies better leverage growing amounts of corporate data residing on IBM mainframe systems, Informatica introduced PowerCenter for Mainframe. A new release of the market-leading PowerCenter data integration platform, PowerCenter for Mainframe provides a high-performance platform for improving reliability, reducing costs of data integration on the IBM mainframe.
- Added EII capabilities to the PowerCenter platform. Through a development and OEM agreement with Composite Software, Informatica can immediately offer its customers the Composite Information Server as a complement to the Informatica PowerCenter data integration platform. Using the PowerCenter platform, customers can now directly access data “on the fly” from their transactional systems which, when combined with historical data already residing in their data warehouses, will provide them with a more comprehensive view of their business and help enable a faster response to changing market conditions.
- Appointed head of worldwide sales. A seasoned industry veteran with a strong track record for leading high-growth, global sales organizations, Paul J. Hoffman joined Informatica as executive vice president of worldwide sales. Hoffman is responsible for building the global sales and alliances organization across the Americas, EMEA, Asia-Pacific and Japan.
To supplement the company’s condensed consolidated financial statements presented on a GAAP basis, Informatica uses pro forma measures of net income and net income per share. These measures are adjusted to exclude certain charges and expenses discussed above and in the attached supplemental consolidated statements of operations, which the company believes are appropriate to enhance an overall understanding of its historical financial performance. These adjustments to the company’s GAAP results are made with the intent of providing both management and investors a more complete understanding of the company’s underlying operational results, trends and marketplace performance. Informatica believes that the inclusion of these pro forma financial measures provides consistency and comparability with its historical reports of financial results, as well as comparability to similar companies in the company’s industry, many of which present similar pro forma financial measures to investors. In addition, these pro forma results are among the primary indicators management uses as a basis for its planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles in the United States.
Informatica will be discussing its first quarter 2005 results on a conference call today beginning at 2:00 p.m. PDT. A live Webcast of the conference call will be available at www.informatica.com/investor. A replay of the call will also be available by dialing 888-286-8010, reservation number 62971384.
About Informatica
Informatica Corporation (NASDAQ: INFA) is a leading provider of enterprise data integration software. Using Informatica products, companies can access, integrate, migrate and consolidate enterprise data across systems, processes and people to reduce complexity, ensure consistency and empower the business. More than 2,200 companies worldwide rely on Informatica for their end-to-end enterprise data integration needs. For more information, call 650-385-5000 (1-800-970-1179 in the U.S.), or visit www.informatica.com/.
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Note: Informatica and PowerCenter are registered trademarks of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners. This document is intended for informational purposes only and cannot be incorporated into any contract.
View Informatica Q1 2005 Condensed Financial Tables
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