BEA Systems, Inc. fell 6 19/64 to 42 13/16 Wednesday, even after reporting first quarter results that beat analysts’ estimates by a penny. U.S. stocks were lower across the board a day after the Federal Reserve acted to move interest rates higher.
Revenue for the quarter ended April 30th rose to $153.7 million from $85.6 million in the same period last year, as license fees rose 52 percent. The e-commerce software company reported pro forma net income of $12.0 million, or 3 cents a share, compared with $3.8 million, or one cent, in the year-earlier quarter. Analysts were looking for the company to earn 2 cents a share, according to First Call.
“The surge in demand we saw at the end of fiscal 2000 continued in the first quarter, giving BEA its strongest first quarter ever,” said Chairman and Chief Executive Officer Bill Coleman.