Perceptive Software Shows Significant YOY Profit Improvement

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From Lexmark’s year-end/Q4 2013 report:

For 2013: Perceptive Software revenue was $224 million. Perceptive Software revenue, excluding acquisition-related adjustments of $16 million, was a record $239 million and grew 48% compared to 2012.

For Q4 2013: Perceptive Software revenue growth of 60% in quarter (70% non-GAAP, 15% organic growth), 43% in full year (48% non-GAAP).

From transcript of conference call (on

“We delivered strong year-to-year improvement in Perceptive Software’s profitability for the quarter and the year, and we expect continued Perceptive Software operating margin expansion in 2014 and beyond.”

“Perceptive Software, delivered significant year-to-year improvement in profitability this quarter, up $9 million, driven by the 2 factors we’ve been focused on. First, we delivered solid Perceptive Software growth year-to-year, including good license revenue growth. Second, with the actions we started to take last year, we’ve been able to reduce Perceptive Software’s organic cost and expense growth without negatively impacting revenue growth. And for the full year 2014, we expect to achieve double-digit software revenue growth and remain committed to delivering a positive and expanded software operating income margin.”

“Perceptive Software had a slight operating loss of $2 million, an improvement of $23 million versus 2012. We expect continued substantial improvement in Perceptive Software operating income in 2014.”

For 2014: “Perceptive will grow a bit faster than 15%, MPS a little less than that.”

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