(Adds forecasts, stock buyback)
BOSTON, Feb 12 (Reuters) - U.S. software maker Teradata Corp (TDC.N) reported higher quarterly profit on Tuesday as currency fluctuations helped fuel a sales increase outside of its home market where revenues dropped.
The company forecast revenue growth would slow this year, climbing between 5 percent and 8 percent in 2008, down from 10 percent in 2007. Its board also authorized a plan to buy back as much as $250 million in stock over a two-year period.
Fourth-quarter net income rose to $79 million, or 43 cents per share, from $62 million, or 34 cents per share, a year earlier.
Revenue rose 3 percent to $433 million during the period. 31. The fourth-quarter comparison included 3 percentage points of benefit from currency fluctuations, the company said.
Teradata, which was spun off from retail check-out and banking equipment maker NCR Corp (NCR.N) last year, is the world’s biggest company that specializes in selling data warehousing software. Other companies use its products as part of business intelligence systems that help them analyze data about their operations, finances and customers.
Data warehousing products help organize and analyze information that is stored in databases.
The company said it expects to report full-year revenue growth of approximately 5 to 8 percent in 2008. Teradata expects to report 2008 full-year net income of from $1.35 to $1.45 per share, up from $1.10 in 2007.
It qualified that forecast, saying in a statement that it “does not reflect any unforeseen special items, if any, that may occur in 2008.” (Reporting by Jim Finkle, editing by Gerald E. McCormick, Leslie Gevirtz)