Aliso Viejo’s Quest Software Inc. on Tuesday reported better-than-expected quarterly sales and gave a 2008 revenue forecast that beat analysts’ expectations.
The maker of business software reported $187 million in revenue for the three months ended December, up 12% from a year earlier and beating analysts’ expected $178 million.
Excluding charges for stock compensation, acquisitions, research and development and fees related to Quest’s internal investigation of stock options backdating, the company saw $28 million in profits, just short of analysts’ expected $29 million.
Including charges, the company posted profits of $24 million, down 27% from the same period a year ago.
Quest had about $236 million in cash and assets at the end of 2007 and a recent market value of about $1.5 billion.
For the current year, Quest said it’s expecting annual sales of $705 million to $720 million, more than analysts’ expected $685 million. It didn’t give a profit outlook or its expectations for the current quarter.
Shares fell in afterhours trading on Tuesday.
