Informatica Profit Tops Estimate; Revenue Falls Shy; Names Michael Berry CFO

(RTTNews) - Informatica Corp. (INFA) reported net income for the third quarter of $22.8 million or $0.21 per share, compared to $10.4 million or $0.09 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $37.3 million or $0.34 per share, compared to $37.1 million or $0.33 per share in the third quarter of last year.

Total revenues for the third quarter rose 6% to $250.4 million from $235.4 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.33 per share on revenue of $253.93 million for the third quarter. Analysts' estimates typically exclude special items.

Separately, Informatica said Michael Berry will be joining the company as executive vice president and chief financial officer on November 1. Berry brings a track record of finance and operational leadership at growth companies and category leaders including SolarWinds, IO, and i2 Technologies.

Berry succeeds Earl Fry as chief financial officer of Informatica. Fry will help in the CFO transition and, increasingly, devote his attention to his new role as chief customer officer and executive vice president, Operations Strategy.