BEA Systems has surprised analysts with its latest quarterly statement showing a 59% jump in earnings. The news could lend substance to the company's determination to hold out for a higher price tag than Oracle offered last month and which BEA declined.
BEA rejected an offer of $17.00 from Oracle, but said it would sell for $21.00. It's major shareholder, Carl Icahn, has been pushing for it to sell to the highest bidder.
BEA reported third-quarter total revenue of $384,40million, an increase of 11% from the third quarter of 2006. License fees of $134,8-million were down 1% from last year, but services revenue, at $249,6-million, was up 18%.
It has cash reserves of $1,2-billion.
Operating profit for the third quarter was $64,3-million, up 70%, while the operating margin was 16,7%. Net income for the quarter was $56-million, up 59%.
BEA expects its fourth quarter revenue to be between $420-million and $434-million.