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Altiris Posts Profit For 2Q 2004

IT life-cycle management solutions vendor Altiris this week reported healthy earnings for its second fiscal quarter ending June 30, 2004.

The Lindon, Utah-based company's gross profit grew to $33.7 million during the quarter, up from $20.3 million for the same period a year ago.

Total revenue for the quarter increased 75 percent year-over-year, rising to $40 million from $22.8 million a year prior. The gain was a 7 percent increase over the company's first-quarter 2004 revenue.

Net income for the second quarter came in at $3.7 million, returning 13 cents per diluted share to the company's investors. Net income was up from $3.3 million a year ago, but shareholder earnings were down from 15 cents per diluted share for the same quarter in 2003 due to charges of $1 million related to amortization of acquired intellectual property, $681,000 in amortization of intangible assets and $145,000 in stock-based compensation.

Greg Butterfield, chairman, president and CEO of Altiris, credited the reseller channel for assisting in the company's financial performance. "We had strong sales activity through our channels and our direct-sales force, where our newly formed named accounts team performed exceptionally well," he said in a statement.

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