Sterling Commerce Reports 40% Revenue Growth
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Electronic commerce company Sterling Commerce Inc. said revenue for its second fiscal quarter ended March 31 was $111.1 million, up 40% over last year's $79.5 million.
Second quarter diluted earnings per share were $.29, an increase of 26% over last year's $.23. For the first six months, revenue increased 41% to $217.4 million, and diluted earnings per share increased 25% to $.55.
Services revenue, which includes domestic and international transaction processing, and catalog and consulting revenues, increased 35% to $47.9 million in the second quarter. Services revenue grew 35% for the first six months to $94.7 million.
Product revenue and product support revenue grew 85% and 42%, respectively, over the same quarter last year with revenue of $39.4 million and $23.8 million, respectively. For the first six months of fiscal 1998, product revenue and product support revenue increased 86% and 42%, respectively. Product revenue and product support revenue include licensing and maintenance of software products in the domestic and international markets.