Constellation Software Q3 net profit soars to US$31.9M; revenue jumps to $418.8M

TORONTO – Constellation Software Inc. (TSX:CSU) has reported a big increase in third-quarter net income amid a sharp increase in revenue largely attributed to acquisitions.

The business software company says net income in the three months ended Sept. 30 was US$31.9 million or $1.51 per share, up 44 per cent from $22.2 million or $1.05 per share.

Consolidated revenue rose 33 per cent to US$418.8 from $315.9 million as profession services fees rose to US$99.6 million from $62.8 million, while maintenance and other recurring revenue rose to US$257.9 million from $191.3 million.

Constellation said the increase was mainly attributable to growth from acquisitions, although four per cent was the result of organic growth.