Earnings at CFI ProServices, one of the largest compliance software firms in the country, more than doubled in 1994, to $3.4 million.
Revenues last year for the Portland, Ore., company were up 20%, to $32.6 million. The fourth quarter was especially good; CFI's earnings shot up 76% and revenues 34%.
"Several factors affect the predictability of our revenues, including regulatory events which create immediate needs for our customers," said Matthew W. Chapman, CFI'S chief executive.
No regulation contributed as much to the company's bottom line last year as Truth-in-Savings did in 1993, when it accounted for 81% growth in its license fees.
CFI's Laser Pro, a loan processing software product, was its biggest seller in 1994, accounting for 73% of its licensing fees.
New products also contributing to the company's success including ProActive, which is mapping software designed to help banks comply with the Community Reinvestment Act; and ProForms, which speeds up the creation of forms.
Mr. Chapman said he expects the banking industry's need to find new ways to comply with fair-lending and CRA rules to bolster ProActive sales in 1995.
CFI, a publicly held company, sells software to about 3,000 customers in 50 states, the District of Columbia, and Guam.