Cognos profits leap 54%

Business intelligence software giant Cognos Inc. raised revenue by 9% to (all figures in $US) $236.7 million in Q1 and lifted net income to $22.4 million ($.25 cents a share). The company marked improved revenue in all three of its businesses – license sales, support and consulting – despite the soaring loonie. The same strong dollar, however, took an estimated $2.5-million slice out of profits as orders worth more than $1 million fell to seven from 13 a year earlier. Nonetheless, net income jumped by 54%, from $14.5 million in the first quarter of fiscal 2007 to $22.4 million.

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