Datawatch Corporation (NASDAQ: DWCH) was having a banner day on stock markets Thursday, despite a slightly red bottom line in its latest quarter. Datawatch reported a Q3 loss of $0.04 per share on sales of $9.07 million. This compares to a net loss of $5.37 million, or $0.45 per diluted share, for the year -ago period.
Revenue was $9.07 million, an increase of 23% from total revenue of $7.38 million in the third quarter of fiscal 2016. License revenue for the third quarter of fiscal 2017 was $4.91 million, a 34% increase from the $3.67 million recorded in the same quarter a year ago.
CEO Michael Morrison said “demand for modern analytic solutions such as our Monarch data preparation and analytics platform is being driven by three factors: the growing need to access and organize data stored in an increasing number of disparate systems and formats, the transition to cloud-based infrastructure and applications, and the secular trend toward self-service for business analysts.”
Morrison concluded, “The momentum we have generated since the beginning of this fiscal year is continuing into our fiscal fourth quarter, which gives us confidence that we will surpass our internal goals for growth and operating profitability for fiscal 2017.
Datawatch, in company literature, “enables ordinary users to deliver extraordinary results with all their data. Only Datawatch can unlock data from the widest variety of sources and prepare it for use with visualization tools or other business processes.”
Shares hiked 93 cents, or 9.7%, to $10.43.
