23 January 2018
visit www.ebaday.com

Barra cautious as revenues shade upwards

21 January 2004  |  3465 views  |  0 Barra cautious as revenues shade upwards

Risk management analytics vendor Barra has reported a slight improvement in revenues and income from continuing operations in the third quarter.

The firm has posted consolidated revenues from continuing operations of $38.2 million and continuing income of $8.7 million. This compares to $35.2 million and $8.6 million for the same quarter last year.

Consolidated net income for the December 2003 quarter, including gains on the sale of Barra's 50% stake in Symphony Asset Management Systems, was $11.2 million.

Kamal Duggirala, Barra's chief executive remains cautious in outloook: "Despite improving equity markets, we continue to observe aggressive cost management and consolidation within our middle market client base. While improving retention is our top priority, we are also excited about new opportunities for growth with the launch of our latest innovation, Barra Credit."

Total revenues for the December 2003 quarter for risk management products were $34.2 million (or $32.8 million after adjusting for the positive impact of changes in foreign currency translation rates) as compared to $31.2 million for the same quarter a year ago. Revenues from products and services of Barra's Financial Engineering Associates subsidiary (FEA) that are included in core business revenues were $1.6 million for the three months ended December 2003.

Recurring subscription revenues for portfolio and enterprise risk management products were $30.1 million in the December 2003 quarter compared to $29.4 million for the same quarter a year ago, an increase of two per cent. Non-recurring revenues from enterprise risk implementation projects and other one-time fees were $1.1 million, down 36% on the year-ago period.

The company recorded 80% renewal rates for subscription-based products.

Volume-based royalty revenues from the Posit joint venture with ITG were $3.9 million as compared to $4 million for the same quarter a year ago.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Barra ships buy-side credit risk tool

Barra ships buy-side credit risk tool

20 January 2004  |  3573 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.niceactimize.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9316 views comments | 37 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9165 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
8948 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8272 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6910 views comments | 13 tweets | 25 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job