Cognos Incorporated announced financial results for its fourth quarter and full fiscal year 2007, ended February 28, 2007. Revenue for the fourth quarter was $284.5 million, compared with $253.1 million for the same period of last fiscal year, an increase of 12 percent. License revenue was $130.5 million, compared with $117.9 million a year ago, an increase of 11 percent.

Net income on a U.S. GAAP basis in the quarter was $60.9 million, compared with $39.3 million for the same period last fiscal year, an increase of 55 percent. Net income on a non-GAAP basis (excluding amortization of acquisition-related intangible assets and stock-based compensation expense) for the quarter was $66.9 million, compared with $45.2 million for the same period last fiscal year, an increase of 48 percent. Earnings per diluted share (EPS) on a U.S. GAAP basis for the quarter was $0.67, compared with $0.43 for the same period last fiscal year. EPS on a non-GAAP basis (excluding mortization of acquisition-related intangible assets and stock-based compensation expense) for the quarter was $0.74, compared with $0.49 in the fourth quarter of last fiscal year.

Revenue for the full fiscal year 2007 was $979.3 million, compared with $877.5 million for the previous fiscal year, an increase of 12 percent. License revenue for the full fiscal year was $376.2 million, compared with $343.2 million one year ago, an increase of 10 percent. Net income on a U.S. GAAP basis for fiscal year 2007 was $115.7 million, compared with the prior year’s net income of $108.6 million, an increase of 7 percent. Net income on a non-GAAP basis (excluding amortization of acquisition-related intangible assets, stock-based compensation expense and restructuring charges) for fiscal year 2007 was $159.9 million, compared with net income of $129.6 million a year ago, an increase of 23 percent. EPS on a U.S. GAAP basis for the fiscal year 2007 was $1.28, compared with $1.17 last fiscal year. EPS on a non-GAAP basis (excluding amortization of acquisition-related intangible assets, stock-based compensation expense and restructuring charges) for the fiscal year 2007 was $1.77, compared with $1.40 last fiscal year.

Fourth quarter non-GAAP results differ from results measured under U.S. GAAP as they exclude $1.8 million of amortization of acquisition-related intangible assets and $6.6 million of stock-based compensation expense, before taxes. Compared to the GAAP results, this is an increase of $0.07 per share, in the aggregate, after the effect of taxes. Non-GAAP results for the full fiscal year 2007 differ from results measured under U.S. GAAP as they exclude $6.9 million of amortization of acquisition-related intangible assets, $24.6 million of stock-based compensation expense and $26.7 million of restructuring charges, before taxes. Compared to the GAAP results, this is an increase of $0.49 per share, in the aggregate, after the effect of taxes. A reconciliation of U.S. GAAP to non-GAAP results is included at the end of this press release.

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