Autonomy profits up 53% in third quarter

Data mining and management firm Autonomy has posted solid results for the third quarter. It saw sales for the third quarter reach $127.1m, up 42%,...

Infrastructure software specialist Autonomy has posted solid results for the third quarter.

It saw sales for the third quarter reach $127.1m, up 42%, and gross profits for the quarter were $117.3m, up 53%.

Mike Lynch, group CEO of Autonomy, said, "We are pleased to announce our record-breaking third quarter, which is significantly ahead of consensus estimates and above the top end of the range.

"The strength in trading was such that the usual Q3 seasonal weakness was not evident, resulting in exceptional quarter-on-quarter revenue, profit and operating margin growth. The business delivered accelerating organic growth during the third quarter, with significant regulatory-driven demand across all sectors."

Despite the global downturn, Lynch said, "Although still maintaining a cautious approach and monitoring the situation closely, we see a number of business opportunities moving into 2009, which give us confidence in the outlook."

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