Revenues for the year were $209 million, a 12 percent increase over 2000; the company credits the gains to streamlining efforts.
Posted Feb 12, 2003
SPSS, a provider of predictive analytics technologies, today reported sales and earnings gains for fiscal year 2002, ended December 31, 2002.
Revenues for the year were $209 million, a 12 percent increase over 2000, while net income totaled just over $8 million, a three percent increase over the previous year. For the fourth quarter, revenues also jumped 12 percent to $54 million, while pro forma earnings remained flat at $3.4 million.
The company credits the gains to streamlining efforts: SPSS cut its operating expenses by 15 percent in the fourth quarter of 2001. Also credited for the increase is sales force reorganization.
"The fourth quarter was a positive end to a challenging year," Jack Noonan, SPSS president and CEO, said in a statement. "Although still affected by a difficult economic climate, sales activity improved, transaction sizes grew larger, and almost all of our market segments experienced growth. The recent reorganization of our sales force enabled account managers to offer a broader range of SPSS analytical solutions to their prospects. Early returns suggest that this streamlining of our field operations can deliver increased revenues at a lower cost."
Noonan added that increased sales from its newly acquired NetGenesis Web analytics solution helped the results. He also said that SPSS's aggressive courting of a broad customer base places the company in a positive position in a continuing soft economy.