BMC Software Inc. (NYSE: BMC) is doing something that many software and technology companies might consider heresy. It grew earnings, and is raising guidance. Doen’t the company know there is a recession?
It posted flat Q3 net income flat of $83.8 million. This translates to $0.64 non-GAAP EPS. Revenue rose more than 6% to $488.4 million. Thomson Reuters estimates were $0.59 EPS and $487.6 million in revenue.
The company said it was raising guidance for earnings for the full fiscal year to $2.20 and $2.30 EPS excluding items. Keep in mind that March will mark the year end, but these estimates are $2.19 EPS.
Shares closed down marginally but are trading up 4% at $26.95 in after-hours reaction. Its 52-week trading range is $20.58 to $40.87. Maybe some companies just get it right even in hard times.
Jon C. Ogg
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