Sohaib Abbasi: Informatica Posts Higher Q2 Income, Reaches $1B Annual Revenue Mark

budget_EBizInformatica Corp. (NASDAQ: INFA) has announced financial results for the company’s fiscal 2014 second quarter that ended June 30.

Overall Q2 revenue grew 13 percent to $250.7 million over the $222.4 million from the prior-year period and income from operations increased 30 percent to 33.8 million over the 25.9 million from the previous year, Informatica said Thursday.

Sohaib Abbasi, chairman and CEO of Informatica, said the company has also reached a milestone by earning more than $1 billion in revenue during the past 12 months.

The software firm generated $87.3 million from product licenses and $16.2 million from subscription fees during the quarter.

Second-quarter net income on a GAAP basis amounted to $22.8 million and non-GAAP net income reached 54.6 million.

Informatica’s board of directors has approved a plan to repurchase additional shares worth $100 million through the company’s stock buyback program.

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