Interwoven announces record Q3 (and other signs we’re not doomed)

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Oct 23, 2008

Released about 40 minutes ago, Interwoven’s (IWOV) Q3 results are truly exceptional. Highlights include:

  • “Record top line and bottom line results, and this is our 20th consecutive quarter of year-over-year revenue growth.
  • Total revenues were a record $65.9 million, an increase of 19 percent over the third quarter of 2007.
  • Non-GAAP net income was a record $8.4 million, an increase of 15 percent from non-GAAP net income of $7.3 million in the third quarter of 2007.
  • License revenue growth was 14 percent, a clear sign we continue to take share from the competition.
  • Consulting, training, and software as a service revenues were $13.9 million, an increase of 37% over the third quarter of last year.”

Of course, the full release will require some vetting, and today’s conference call (5pm sharp!) should provide additional insight.

Not surprising to this analyst would be strong license growth around Interwoven’s Segmentation, Targeting, and Optimization Web Content Management (WCM) offerings, which have been [anecdotally] quite powerful and well-received. (For you “print” folks, the integrated offerings are similar to transpromo, custom communications… for the Web channel.)

The bigger picture is this positive sign in context of other ECM vendor earnings reports. I’m thinking of IBM in particular, who released earnings early to fight off a tech-stock slowdown. With Big Blue looking at 30% YoY revenue growth for their Information Management segment (mainly from Cognos, but I’ll let that go for now), it seems the enterprise solution market may continue growing at a decent clip. Then again, both EMC’s and Oracle’s recent releases indicated troubling times may be ahead (but again, these require more vetting than we’ve had time for).

In any case, let’s thank Interwoven for keeping us positive, and look towards the future — both Vignette and Open Text are scheduled to release earnings in the next few weeks. od.

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