Actuate Corp. (BIRT) Misses Q2 EPS by 1c

Actuate Corp. (NASDAQ: BIRT) reported Q2 EPS of $0.02, $0.01 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $26.7 million versus the consensus estimate of $25.93 million.

"Our subscription business continued its steady growth in the second quarter indicating customer preference for subscription license and validating our decision to accelerate our transition,” said Pete Cittadini, President and CEO of Actuate. “The over 3.5 million BIRT developers as well as our acquisitions are diversifying our customers across industries with new projects in travel, energy and utilities, telco, manufacturing and healthcare in addition to our traditional strength in financial services, OEMs and government during the first half of 2014. We have added a number of new products including BIRT iHub F-Type™, Document Accessibility Appliance™, BIRT Analytics™ 4.4 and BIRT PowerDocs™ that set a solid foundation for our rapid transition to a subscription business.”

For earnings history and earnings-related data on Actuate Corp. (BIRT) click here.

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