Autonomy says it will beat 3Q earnings forecast on accelerating organic growth
Autonomy Corporation plc, a global leader in infrastructure software for the enterprise, said it expects to report record third quarter 2008 results, with revenues and earnings per share ahead of consensus estimates and at or above the top end of the range.
CEO Mike Lynch said: "We are pleased to see continued strong trading in our business, to an extent that the usual Q3 seasonal weakness was not evident resulting in exceptional quarter-on-quarter revenue, profit and operating margin growth.
"The third quarter saw accelerating organic growth, with significant regulatory-driven demand, whilst maintaining the backlog at record levels, together with record cash collection from our blue chip customer base."
Over the past few days Autonomy announced a string on new sales for its Intelligent Data Operating Layer (IDOL) software: with AstraZeneca; with Statoil ASA and with the European Commission.
It share price rose 1% to 936.50p today. It now has a market capitalisation just above £2 billion, making it the largest company by value with a head office in Silicon Fen.
