Day's Q1 2010 Interim Results Show 80% License Revenue Growth

By Irina Guseva (@irina_guseva) Apr 22, 2010

Building on the 65% license revenue growth in 2H 2009, Day Software (news, site) announced interim financial results for Q1 2010.

The total (unaudited) license revenue grew by 80%, whereas the total revenue increased 48% compared to the same period last year. CQ5 Web CMS, again, is the main driver behind soaring numbers.

News Wins and Renewals

Investments in sales and marketing are paying off, as new customer wins and installed base re-orders are positively impacting Day’s first quarter of 2010. Customer renewals with recurring maintenance revenue have grown by 37% — leading to growth in income before tax margin to 18%.

New customer wins were reported in Day’s four primary vertical markets — Media/Communications, Financial Services, Higher Education and Automotive Industry.

OEM and Partner Channel

Channel and OEM programs also contributed to the increase in revenues. Day partnered with Molecular and Ironworks in the U.S., who will act as Day’s SIs for the CQ5 Web CMS.

On the OEM front, Day benefited from the relationship with HP, who reported seven customer wins and OEM royalties from the use of Day’s Java Content Repository (JCR) called CRX.

While not all the numbers are yet available in the form of an official financial report that can be further analyzed, overall, Day continues to show incremental growth quarter after quarter. We'll keep you posted as we know more.