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The Houston, Texas-based business software maker reported GAAP net income for the second quarter of $94.2 million or $0.50 per share, compared to $69.8 million or $0.36 per share for the year-ago quarter.
Excluding items, non-GAAP net income for the second quarter was $123.3 million or $0.66 per share, compared to $107.6 million or $0.56 per share in the prior year quarter.
On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.58 per share for the second quarter. Analysts' estimates typically exclude special items.
GAAP operating margin for the quarter improved to 29% from 23% a year ago, while non-GAAP operating margin increased to 38% from 32% last year.
Total revenue for the second quarter decreased 1% to $461.8 million from $466.7 million in the same quarter last year. Eleven analysts had a consensus revenue estimate of $463.43 million for the second quarter.
License revenue declined 0.9% from last year to $174 million in the second quarter, while maintenance revenue grew 7% to 257.4 million and professional services revenue fell 14.8% to $30.4 million.
"Our solid performance in the quarter underscores our continued market leadership, technological innovation and operating discipline," said Bob Beauchamp, BMC's chairman and chief executive officer.
The company's total bookings for the quarter rose 6% year-over-year to $431 million. ESM license bookings fell 9% to $109 million in the second quarter.
During the second quarter, BMC repurchased 2.1 million shares of its common stock for $75 million. At the end of the quarter, the company has about $220 million remaining under its existing stock buyback program.
For the first six months of its fiscal year, the company reported GAAP net income of $176.6 million or $0.94 per share, compared to $71.0 million or $0.37 per share for the same period last year.
Non-GAAP net income for the first-half was $233.9 million or $1.25 per share, compared to $190.0 million or $0.99 per share in the prior year period.
Total revenue for the first-half increased 0.8% to $911.8 million from $904.2 million in the corresponding year-ago period.
Last week, BMC Software completed the acquisition of privately held Tideway Systems Ltd. The acquisition will enhance BMC's Business Service Management platform and help organizations minimize the risks associated with business-critical initiatives such as data center consolidation, virtualization and compliance.
Looking forward, the company raised its fiscal 2010 non-GAAP earnings guidance to a range of $2.55 to $2.65 per share from its prior guidance of $2.47to $2.57 per share. Analysts currently expect the company to earn $2.51 per share for the fiscal year 2010.
Among others in the industry, CA, Inc. (CA | Quote | Chart | News | PowerRating), formerly known as Computer Associates International Inc., last week reported second quarter profit that increased 8% from last year, as better cost control and lower taxes helped offset a 3% drop in revenue.
BMC shares, which have traded in a range of $22.03 to $39.00 over the past year, closed Thursday's regular trading session at $37.22, up 80 cents or 2.20%.
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