Optio Software has released financial results for Q3 and the first nine months of 2005 with increased revenue but a decline in net income.
Optio's total revenue for Q3 of 2005 rose 6 percent to $7.1 million from $6.6 million in the prior fiscal year quarter. Software license revenues were $2.1 million in the three months ended Oct. 31, 2005, compared to $1.8 million in the three months ended Oct. 31, 2004, the company said.
Contributing to the quarter's results was subscription licensing contracts which added $542,000, compared with $417,000 in Q3 2004. Services and maintenance revenue increased to $4.5 million during the quarter, from $4.4 million in the three months ended Q3 2005.
Total revenue for the nine months ended Oct. 31, 2005 was $21.4 million, compared to $20.6 million in the nine months ended Oct. 31, 2004.
Net income for Q3 fiscal 2006 was $6,000 and diluted earnings per share (EPS) were $0.00, a decline from net income of $353,000 and diluted EPS of $0.02 in the prior-year quarter.
For the nine months of 2005, net income was $160,000, or $0.01 diluted EPS, a decline from net income of $1.3 million and diluted EPS of $0.06 in the nine months of 2004, the company said.
"For the fiscal 2006 third quarter, Optio posted healthy software license revenue growth of 17 percent, demonstrating strong market demand for our document process automation and print management solutions," said Wayne Cape, chairman, president and CEO, Optio. "In addition, we gained traction in our healthcare forms automation and electronic medical record business through the addition of two new multi-year subscription contracts valued at almost $700,000 and two additional add-on subscription contracts with existing Optio customers. Sales to new and existing enterprise customers, as well as sales through Optio's channel groups, showed continued strength both in the United States and in Europe Middle East Africa (EMEA)."