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Weekly wrap: Businesses announce quarterly results

Weekly wrap: Businesses announce quarterly results

The financial news on SugarCRM, Netapp and SoftLayer

[b]SugarCRM racks up another record quarter[/b]

Customer relationship management (CRM) company, SugarCRM, has announced a record quarter in Q3 2011 with strong growth in billing during this period.

The company said that its billings growth continued a strong upward trend to 69 per cent in the third quarter over the same period in 2010, and by 13 per cent over the second quarter in 2011. According to the company, the results reflect continuing momentum in key and emerging markets driven by channel growth.

It said that year-over-year billings growth increased by 84 per cent in North America, 83 per cent in Asia-Pacific, 45 per-cent in EMEA (Europe Middle East and Africa), and 111 per cent in Latin America.

In line with SugarCRM’s strategy to build a dynamic sales channel network, the company has welcomed 38 new partners during the quarter, bringing the worldwide total to 343 partners.

SugarCRM vice-president of worldwide sales and customer advocacy, Jeff Campbell, said, “Our strategy to collaborate with partners to meet the changing needs of businesses as they streamline and grow has been a success for SugarCRM and for our partners and customers.”

[b]Netapp Q2 FY’12 revenue up 20 per cent YoY[/b]

Storage and data management solution provider, NetApp, recently reported its results for the second quarter of fiscal year 2012, which showed revenues totalling close to $US1.51 billion, compared to revenues of $US1.25 billion for the same period one year ago.

For the second quarter of fiscal year 2012, Generally Accepted Accounting Principles (GAAP) net income was $US165.6 million, or $US0.44 per share, compared to GAAP net income of $US175.4 million, or $US0.45 per share, for the same period a year ago.

Non-GAAP net income for the second quarter of fiscal year 2012 was $US235.5 million, or $US0.63 per share, compared to non-GAAP net income of $US212.2 million, or $US0.54 per share, for the same period a year ago.

Revenues for the first six months of fiscal year 2012 totalled $US2.965 billion compared to revenues of $US2.405 billion for the first six months of the prior fiscal year, an increase of 23 per cent year over year (YoY).

The company estimates revenue for the third quarter of fiscal year 2012 to be in the range of $US1.520 billion to $US1.610 billion, which equates to approximately 1 per cent to 7 per cent sequential revenue growth and approximately 18 per cent to 25 per cent YoY revenue growth.

NetApp estimates that third quarter fiscal year 2012 GAAP earnings per share will be approximately $US0.36 to $US0.40 per share. NetApp estimates that third quarter fiscal year 2012 non-GAAP earnings per share will be approximately $US0.56 to $US0.60 per share.

[b]SoftLayer achieves record setting revenues for third quarter[/b]

Cloud solutions provider, SoftLayer, has achieved top-line revenue growth in Q3 of 2011, reaching $85 million in revenues and $34 million in EBITDA.

According to the company, the growth comes in time with the hire of venture capitalist, David Strohm to support future growth plans and deploying a rapidly changing business model.

It is also experiencing expansion into international markets such as Singapore and Amsterdam and is looking to launch a datacenter in Australia in early 2012.

SoftLayer chief strategy officer, George Karidis, said, “Our approach resonates with customers because we offer an à la carte menu of service and options resulting in greater flexibility and control over IT resources while reducing operating costs. With our new data centers in Singapore and Amsterdam, we’ll be able to drive even more international revenue and sales.” Strohm joins SoftLayer’s board of directors to help provide guidance over the company’s future growth plans.

A Silicon Valley veteran, David joined Greylock in 1980 and currently sits on the board of AtHoc, Bounty Jobs, EMC Corporation, MATRIXX Software, OpenDNS, ProgresoFinanciero, richrelevance, Tabula and VMware.

He is a graduate of Dartmouth College and the Harvard Business School.

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