DataMirror’s Shows Continued Growth in the First Quarter
June 4, 2007 Timothy Prickett Morgan
DataMirror chief executive officer Nigel Stokes said his company is continuing to build momentum based on technological advances relating to its flagship product Transformation Server/ES and a growing customer base in Europe. Stokes’ remarks came as DataMirror, a high availability and data integration software maker with a customer base that includes System i shops, announced its financial results for the quarter ended April 30.
According to the report, revenue increased more than 22 percent during the company’s Q1 fiscal 2008, at $12.6 million. License revenue in the quarter was $5.65 million, a 60 percent jump from a year ago. Net income was $1.87 million, ($0.30 per share) compared to $743,000 ($0.09 per share), an increase of 151 percent. Cash and cash equivalents stood at just over $18 million at the end of the quarter. The overall gross margin at the company was 84.6 percent in the quarter, compared to 82.9 percent, which helped boost profits.
“The first quarter proved to be a great start for the year,” Stokes said in a prepared release. “We are now expecting improved growth and profitability for the remainder of the year.”
During the second quarter of fiscal 2008, DataMirror officials are expecting revenue to increase, with estimates between $12.5 million and $13.5 million provided in the company announcement. That figures to be net income in the range of $0.28 to $0.35 per share. For its entire 2008 fiscal year, DataMirror’s estimated revenue comes in between $55 million and $57 million, with net income of between $1.35 and $1.50 per share.
The primary enhancement to the company’s Transformation Server/ES during the quarter was data replication software designed to work with message queues used in enterprise application integration (EAI) and service oriented architecture (SOA) environments. Transformation Server is used for extracting, transforming, and loading data from one relational database to another. In most cases, that involves moving data from production DB2/400, DB2 UDB, Oracle, SQL Server, Sybase, or Teradata databases running on i5/OS, Windows, Unix, or Linux servers to a secondary database used for data warehousing, for real-time reporting or for keeping e-commerce Web apps synchronized with the production systems.
To handle the increase in European business, during its last fiscal quarter DataMirror opened new offices in Milan and Rome, Italy, and also in Amsterdam, in the Netherlands. DataMirror is headquartered in Markham, Canada.