Autonomy pretax up and confident on outlook
Software group Autonomy Corporation beat market expectations by posting adjusted pretax profit of $53.7 million (30.7 million pounds) for the third quarter on Wednesday, and said it was confident about its outlook.
Schroders 35% profit rise in 2007The company, whose software is used to track emails and phone conversations for more than 17,000 customers, reported a 115 percent rise in adjusted pretax profit of $53.7 million, on revenue 42 percent ahead at $127.1 million.
The group said earlier this month it expected to exceed analysts' expectations, which averaged $121.6 million for revenue and $44.5 million for adjusted pretax profit, according to the company.
Autonomy, which rejoined the FTSE 100 index last month after seven years, said it delivered accelerating growth during the quarter and it had a record backlog.
"Despite conservative analysis of the current macroeconomic environment, the fact that our fundamental market dynamics and our pipeline going into the remainder of the year remain strong leads us to be comfortable with the outlook," it said in a statement.
(Reporting by Paul Sandle; Editing by Paul Bolding)
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