Regulatory changes boost Autonomy results

Firm remains "cautiously optimistic" as revenue and profit increase

Lynch: Autonomy's profit grew by 67 per cent in the second quarter

Profit at UK software firm Autonomy grew by 67 per cent in the second quarter as regulatory changes and lawsuits boosted product demand.

Autonomy posted profit of $50.9m (£30.9m), up from $30.5m (£18.5m) during the same period in the previous year. The supplier has also seen a sales increase: $195.2m (£118.7m) up from $125.6m (£76.4m) a year ago.

The company also added that it won a string of new client deals during the second quarter of 2009, including Barclays, Tesco, Shell, Morgan Stanley, Johnson & Johnson, General Electric and eBay.

“Autonomy’s performance was delivered despite the continued uncertain economic environment and the considerable integration work around the Interwoven acquisition, which is now essentially complete,” said Autonomy’s chief executive, Mike Lynch.

“Despite the continued uncertainty in the markets, we remain cautiously optimistic. We are seeing, for example with our recent significant legal hold licence deal, the second of the three waves of regulatory technology investment,” he said.

“This quarter’s early wins lead us to believe that the new meaning-based marketing technologies will be a strong performer in the period immediately following any macro upturn.”