Ariba swings to profit in Q1

Its 12-month subscription software backlog grew 59% year-over-year to $127m

Spend-management software vendor Ariba has reported a net profit of $3.43m for the first quarter 2009, against a loss of $18.32m in the year-ago quarter, on revenue up 11.8% at $86.1m.

It made an operating profit of $8.79m compared to a loss of $21.2m in the same period last year. Net profit per share was $0.04 compared to a net loss per share of $0.25 last year.

The company said it added 27 new customers during the quarter, and closed 15 transactions worth over $1m, including 6 software deals and 109 on-demand product deals. Its 12-month subscription software backlog grew 59% year-over-year to $127m. Net cash flow from operations was $10.8m, compared to $1.2m in the year-ago quarter.

Subscription and maintenance revenue grew 35.1% to $54.1m, while services and other revenue fell 13.4% to $32m.

Bob Calderoni, chairman and chief executive at Ariba, said: We increased our subscription software revenues over 70% and significantly increased our non-GAAP net income year-over-year in the face of a very challenging macro-economic environment. This reflects how customers are increasingly using Ariba's spend management solutions to reduce their operating costs and better manage their working capital.

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