Autonomy sees upside to 2011 EPS consensus

British software firm Autonomy said it was confident there was upside for earnings consensus for 2011, even after organic growth slowed in the third-quarter as some contracts were delayed.

The company, whose software searches and organises unstructured information such as emails, phone conversations, documents and video, reported a 10 percent rise in revenue to $211m, at the top of its own guidance.

Autonomy warned earlier this month, however, that revenue for the full year would be three percent lower than it expected, sending its shares sharply down.

Chief Executive Mike Lynch said that the downgrade was taken on “conservative assumptions” around the timing of deals, and there was no change in fundamental demand for its products.

“We are confident in maintaining our view of the outlook for demand and expect to continue to deliver good EPS growth in 2011, with upside to current market consensus,” he said.

Analysts expect the company to report full-year revenue of about $973m and earnings per share of about $1.24 in 2011, according to the company.

Adjusted pretax profit in the third quarter rose 34 percent $86.3m and adjusted EPS rose 25 percent to 25 cents.


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