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The enterprise software management developer had net earnings, excluding amoritisation of goodwill and intangible and special items, in its latest quarter (which it calls fiscal Q3 2002) of USD19.9 million and diluted earnings per share of USD0.08. This was within the range previously provided by the company but at the lower end. It is, however, well below the USD58.8 million it made in Q3 2001.
BMC Software, which employs 70 people in Ireland, said that when special items and amoritisation of goodwill and intangible assets were included, it had a loss of USD94.5 million, or USD0.39 a share. This compares with earnings of USD21.9 million, or USD0.09 per share, for the same period last year.
Total revenues in the fiscal third quarter, excluding a special maintenance revenue benefit of USD2.6 million, were USD317.6 million compared to USD385.5 million in the same quarter of fiscal 2001. BMC had previously said it expected sales to be between USD312 million and USD319 million.
Total licence revenues were USD152.3 million in Q3 2002. In Q3 2001 they were USD228.9 million. But excluding the special revenue benefit, maintenance revenues increased to USD143.7 million in the third quarter from USD133.6 million in the same quarter last year. Meanwhile professional services revenues were USD21.6 million compared to USD23.0 million for Q3 2001.
BMC also managed to reduce its operating expenses, excluding amortisation of goodwill and intangibles and special items, by USD21.1 million from Q3 2001 to USD304.9 million for Q3 2002.
BMC's president and chief executive officer, Bob Beauchamp, said in a statement that while he was pleased with the company's progress, macroeconomic conditions continued to have a "dampening effect" on its sales levels. He did not give any guidance on results for the next quarter.
BMC Software has been in Ireland since 1999 and employs around 70 people. In November 2001 the company announced a round of layoffs to reduce costs that saw 475 of its 6,800 employees lose their jobs. The Irish operations escaped those cuts and a month later the company said that it would create 30 jobs in Dublin following the launch of a new customer call centre. All those additional posts have now been filled, BMC's country manager for Ireland, Brendan O'Reilly, told ElectricNews.Net.
O'Reilly added that the company was pleased with the results as they had met its previous forecasts and said they would have no detrimental impact on employee numbers in Ireland.
BMC also announced on Thursday that it had created a new position of senior vice president of operations, which would be filled by Jeff Hawn who previously held a number of posts within the company. It also said that John Cox, who has been acting chief financial officer for the last year, had been formally appointed to the post on a full-time basis.
BMC Software has been trading in a 52-week range of USD11.5 to USD32.875. At the close of trading on Thursday in New York it was up USD1.09, or 5.53 percent, to finish at USD20.79.
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