Macromedia has posted third-quarter net profits that were up 24 per cent from a year ago.
Net revenues for the three months ended December 31, 2003 were $94.8 million, compared with net revenues of $83.2 million reported in the comparable period last year. Net income for the three months ended December 31, 2003 was $10.3 million – this time last year, net income was $8.3 million.
This beat expectations – analysts polled by Thomson First Call expected, on average, $91.8 million in revenue.
Macromedia chairman and CEO Rob Burgess said: "Our good results this quarter were a function of a number of positive developments, including: successful international launches of the MX 2004 products; accelerated growth in new product lines such as Breeze, Contribute, and mobile; increased effectiveness of our expanding direct sales force; and strong growth in international markets, particularly Asia and Europe."
He added: "I’m quite pleased that we finished the calendar year with such solid results across the board."
The quarter saw Macromedia launch the MX 2004 products in Europe, Latin America, and Japan; announce that Director MX 2004 will ship soon; and announce that Macromedia Flex, a server solution for programmers to develop in Flash, is expected to ship in the first half of calendar year 2004.
Macromedia also reported strong improvements in Macromedia Contribute, with 32 per cent sequential growth from last quarter and an increase in volume deployments.
The company completed its acquisition of eHelp Corporation in December.
Macromedia expects net revenues for the quarter ending March 31, 2004, to be in the range of $92 to $98 million, with pro forma gross margins in the 90 to 91 per cent range, and a pro forma operating profit margin between 10 and 15 per cent.