Applix posts 45% rise in revenue
Applix Inc. has released its fourth quarter results, showing a 45 percent increase in revenues from the same quarter in '05, and an identical increase in license revenue compared to the same quarter last year.
The Westboro company reported Q4 revenues of $16.04 million compared to $11.08 million recorded in 2005. License revenue rose to $9.63 million, versus $6.64 million posted a year ago.
Net income on a GAAP basis was $5.97 million for the fourth quarter in '06, increasing from $2.48 million reported in the same quarter of '05. Fourth quarter net income included a tax benefit of $4.18 million from the reversal of a valuation allowance on domestic net operating losses.
"This strong fourth quarter performance capped off an outstanding year for Applix," said David Mahoney, president and CEO. "Our success in fourth quarter and for 2006 is proof that this unique combination of market dynamics and technology leadership has placed Applix in a strong position heading into 2007."
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