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| Interwoven Announces Another Record Quarter |
| Interwoven also announced tremendous Q208 financial performance,
delivering the largest top-line revenues in our company’s
history
Following are a few highlights of the numbers:
- Revenue growth of 16%—we’ve now had 19 consecutive
quarters of year-over-year revenue growth
- Total revenue of $63.2 million—the largest top-line revenue
in the company’s history
- Net income increased from $4.2 million to $7.5 million
- License revenue growth of 11%
The financial analysts responded very favorably to the numbers
and the acquisition of Discovery Mining, a leading innovator of
eDiscovery hosted solutions that complements and extends Interwoven’s
strong position in the professional services market. Several analysts
wrote positive research notes on the news. Following are a few highlights
from the notes:
- Benchmark Equity Research—“Interwoven Delivers
Good 2Q Results. We believe the acquisition makes sense strategically,
particularly in the legal vertical where the two companies’
products have similar buying centers.”
- Kaufman Bros. Equity Research—“Once again, Interwoven
printed impressive results…. Interwoven delivered again.
We believe that given the almost five years of meeting and exceeding
results, shares of Interwoven should be trading at a premium multiple.”
- Northland Securities—“We believe the company
is executing extremely well with the existing business gaining
market share rapidly. The addition of Discovery Mining opens up
the large eDiscovery market, which could be a significant driver
of accelerated growth in 2009 and 2010.”
Ben Kiker
Senior Vice President and Chief Marketing Officer
Interwoven
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