Quest Beats Revenue, Profit Targets in Q3Thursday, November 3, 2011
Aliso Viejo-based Quest Software Inc. on Thursday reported third-quarter revenue and adjusted profits that beat Wall Street expectations.
Quest posted revenue of $220 million, up 14.2% from a year earlier.
Analysts on average had forecast revenue of $214 million.
Adjusted profits topped $35 million, down nearly 4% from a year ago.
Wall Street had expected an adjusted profit of about $31 million.
Quest makes software that manages and improves on other business products from Redmond, Wash.-based Microsoft Corp., Oracle Corp. in Redwood Shores, New York-based IBM Corp., and others.
Quest is Orange County’s third-biggest software maker by revenue with some $800 million in yearly sales and a market value of about $1.5 billion.
Quest did not provide any guidance for the current quarter.
Analysts are expecting an adjusted profit of $43 million on about $244 million in revenue.