MicroStrategy Announces First Quarter 2012 Financial Results


Wednesday, May 02, 2012 by MicroStrategy

MicroStrategy® Incorporated, a leading worldwide provider of business intelligence (BI) software, has announced financial results for the three-month period ended March 31, 2012 (the first quarter of its 2012 fiscal year).

First quarter 2012 revenues were $145.1 million versus $122.0 million for the first quarter of 2011, a 19% increase. Product licences revenues for the first quarter of 2012 were $37.5 million versus $27.4 million for the first quarter of 2011, a 37% increase. Product support and other services revenues for MicroStrategy's core BI business for the first quarter of 2012 were $100.9 million versus $87.8 million for the first quarter of 2011, a 15% increase.

Operating expenses for the first quarter of 2012 were $105.6 million versus $87.8 million for the first quarter of 2011, a 20% increase. The increase in operating expenses was primarily due to increased headcount and related expenses, particularly for engineering personnel. In addition, during the first quarter of 2011, MicroStrategy capitalised $3.8 million in costs associated with the development of its MicroStrategy 9.2 software, while no software development costs were capitalised during the first quarter of 2012.
Net income for the first quarter of 2012 was $0.3 million, or $0.02 per share on a diluted basis, compared to $1.1 million, or $0.10 per share on a diluted basis for the first quarter of 2011.

As of March 31, 2012, MicroStrategy had cash and cash equivalents of $211.1 million versus $199.6 million as of December 31, 2011, an increase of $11.5 million. As of March 31, 2012, MicroStrategy had 8,558,337 shares of class A common stock and 2,281,125 shares of class B common stock outstanding.

MicroStrategy continues to create innovative Big Data, mobile applications, cloud-based BI, and social intelligence solutions
In the first quarter of 2012, MicroStrategy sought to provide visionary thought leadership, innovative new products, and superior service to its customers as they grapple with the challenges and opportunities posed by Big Data, mobile applications, sloud-based BI, and social intelligence. In the first three months of 2012, MicroStrategy unveiled the following new technologies:

  • MicroStrategy announced the general availability of MicroStrategy 9.2.1m for customers to build information-driven mobile apps for iPhone, iPad, and Android devices. MicroStrategy 9.2.1m contains over a dozen new capabilities that further enhance MicroStrategy-powered mobile apps. The new capabilities include support for offline mobile transactions, intelligent offline caching, and a secure mobile content management system - all resulting in a richer user-experience
  • MicroStrategy released a new version of MicroStrategy Mobile that delivers enhanced integration with Apple's AirPlay feature and also provides annotation capabilities for users to annotate and share notes via email. With the latest release of MicroStrategy Mobile for iPad and iPhone, users can easily present and dynamically explore their company's performance, financials, operations, and marketing information on screens in conference rooms
  • MicroStrategy released an update to its free in-memory data discovery solution, MicroStrategy Cloud Personal, which includes more than 250 new features and enhancements, including the ability to import data directly from Salesforce.com. Integration with Salesforce.com's cloud will allow business people to analyse their CRM data in minutes using MicroStrategy's analytics and data visualisation capabilities
  • MicroStrategy announced that Teradata's integrated data warehouse (IDW) platform will be available via the MicroStrategy Cloud. MicroStrategy Cloud will leverage Teradata's family of Data Warehouse platforms to offer both mult-itenant and dedicated versions of Teradata technology as an optional service to MicroStrategy Cloud customers, delivered under the MicroStrategy Cloud brand name. MicroStrategy Cloud customers can access enterprise data from their desktop or mobile device, improving insight and business decision making