PALO ALTO, Calif. - Cats Software Inc., a developer of risk management systems for derivatives traders, last month reported higher second-quarter profits and revenues.
The company said it had net income of $920,000, or 14 cents per share, a 50% increase from the year-earlier period. Earnings were in line with most analysts' forecasts, according to First Call Corp.
Second quarter revenues rose 22%, to $5.5 million. Expenses grew by 20% over the second quarter of 1994.
"Our record revenue level reflects increasing demand for our products, as we added three new clients and continued to experience a high rate of renewal from our installed base," said chief executive Rod A. Beckstrom.
- Compiled by Brian Tracey and Matt Barthel