Business intelligence software developer Cognos has attributed record financial results to tepid competition, the company's local marketing director Gari Johnson has said.
The ebusiness software vendor on Friday announced revenues for the quarter, ended February 29, of $US118.1 million ($A197 million), representing a 36 per cent increase over revenues for the same period the year before. For its fiscal year Cognos posted revenues of $US385.6 million ($A643.2 million), an increase of 28 per cent over the previous year.
Cognos' vice president for Asia-Pacific, Sam Clarke, said there was no company that posed a significant threat to Cognos' business intelligence software market share of more than 50 per cent.
"The main competition is people who try to do it themselves," he said, referring to the fact that Cognos did have competitors for individual products.
"The market is nowhere near reaching its peak growth," added Johnson.
Clarke said his company would use the encouraging financial results as a springboard to expand its business in Asia. He said Cognos was currently in discussions with companies regarding "four or five deals worth at least a million dollars each".
Typically, Cognos targets its business at medium and large enterprises paying between $50,000 and $150,000 for Cognos' software and services, said Clarke.