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US business intelligence software producer MicroStrategy (Nasdaq: MSTR) posted net profits of US$4.9mn in the third quarter of 2011, down 33% compared to US$7.3mn in 3Q10, the company said in a statement.
However, Q3 revenues increased 23.7% year-over-year from US$115mn to US$142mn, the highest quarterly total revenues in company history.
Product licenses revenues for the third quarter were up 22% to US$39.3mn in the same comparison. Product support and other services revenues for MicroStrategy's core business intelligence (BI) area were US$96.6mn, versus US$77.8mn for 3Q10, a 24% increase.
But total cost of revenues and total operating expenses increased 34.5% and 33.6%, respectively, dragging on the bottom line.
In Latin America, MicroStrategy divides its operations into three regions - north of Latin America (including Mexico, the Caribbean and countries north of South America); Brazil; and the Southern Cone (Argentina, Chile, Uruguay, Paraguay, Peru and Bolivia).
To read the full statement, go to this link