October 28, 2008

Interwoven Q3 Earnings Rise 90%

Content-management company Interwoven has reported a 90% increase in net income to $7.7m for the third quarter 2008, compared to $4.1m in the year-ago quarter, on revenue up 19% at $65.9m.

Operating income increased to $7.7m from $3.5m, while diluted EPS increased to $0.16 from $0.09 in the same period last year.

The company said license revenue grew 14% to $24.16m, while support and services revenue grew 22% to $41.7m. During the quarter, the company acquired eDiscovery provider Discovery Mining for $36m. It added 114 new customers, bringing the total to over 4,600 customers worldwide.

For the nine months, the company reported a 64% increase in net income to $21.3m, compared to $13m in the same period last year, on revenue up 17% at $162.8m.

Joe Cowan, chief executive at Interwoven, said: "We have continued to perform from a position of strength, with a large and growing customer base, strong balance sheet, recognized leadership position, and solutions that deliver much needed business impact. Now more than ever, our customers view Interwoven's solutions as key to helping them win new business and get the maximum value from their content."

For the fourth quarter, the company expects revenue between $69m and $71m and EPS between $0.15 and $0.17.