August 13, 2013 at 08:00 AM EDT
Application Software Companies Report Financial Results and Corporate Announcements - Research Report on Cadence, SAP, Brightcove, Monotype, and Mitek

NEW YORK, August 13, 2013 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Today, Analysts' Corner announced new research reports highlighting Cadence Design Systems Inc. (NASDAQ: CDNS), SAP AG (NYSE: SAP), Brightcove, Inc. (NASDAQ: BCOV), Monotype Imaging Holdings Inc. (NASDAQ: TYPE), and Mitek Systems Inc. (NASDAQ: MITK). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Cadence Design Systems Inc. Research Report

On July 24, 2013, Cadence Design Systems Inc. (Cadence) reported its  Q2 FY 2013 (period ended June 29, 2013) financial results with revenue growth of 11% YoY to $362.5 million. Non-GAAP net income was $61.2 million or $0.21 per diluted share, compared to $52.9 million or $0.19 per diluted share in Q2 FY 2012. Lip-Bu Tan, the Company's President and CEO, said, "Cadence announced two new products, the Tempus Timing Signoff Solution, a significant advancement in static timing analysis and closure, and Virtuoso for Electrically Aware Design, a groundbreaking new approach to improve automation for custom/analog design, both of which demonstrate the strength of our innovation engine." For Q3 FY 2013 and full year FY 2013, Cadence expects total revenue of within $360 million to $370 million and between $1.4million and $1.5 billion respectively. The Company estimates Q3 FY 2013 and FY 2013 non-GAAP net income of $0.19 to $0.21 per diluted share and of $0.80 to $0.89 per diluted share, respectively. The Full Research Report on Cadence Design Systems Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/0909_CDNS]

SAP AG Research Report

On July 24, 2013, SAP AG (SAP) announced that the Department of Posts (DoP), the government-operated postal system of India, has chosen SAP solutions to improve responsiveness and dependability across its more than 155,000 post offices. According to Hans G. Landgraf, Head of Business Segment Postal at SAP, "SAP postal services customers are leveraging the latest technology to transform their business, from improving efficiency in back-office and core processes to creating new lines of operations within their existing infrastructure. With our experience, SAP is eager to help India's Department of Posts improve its business and increase transparency across its organization in order to meet the changing demands of its customers." The Full Research Report on SAP AG - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/19b8_SAP]

Brightcove, Inc. Research Report

On July 25, 2013, Brightcove, Inc. (Brightcove) reported its Q2 2013 financial results. Total revenue increased 24.4% YoY to $26.9 million. Net loss attributable to common stockholders was $3.5 million or $0.12 per diluted share, compared to net income of $4.3 million or $0.16 per diluted share in Q2 2012. David Mendels, CEO of Brightcove, noted, "We are seeing strong demand across a wide variety of industries as our customers embrace the use of digital content as a way to drive deeper levels of engagement with their customers. During the quarter we delivered exciting new technology to the market that enhances our market leadership position and strengthens our ability to penetrate the multi-billion dollar online video platform market." For Q3 2013 and full year 2013, the Company expects revenue to be $26.8 million to $27.3 million and between $106.3 million and $107.5 million respectively. The Full Research Report on Brightcove, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/d68f_BCOV]

Monotype Imaging Holdings Inc. Research Report

On July 26, 2013, Monotype Imaging Holdings Inc. (Monotype) reported its Q2 2013 financial results. Revenue increased 6.8% YoY to $41.1 million. Non-GAAP net income was $10.3 million or $0.26 per diluted share, compared to $10.1 million or $0.27 per diluted share in Q2 2012. Doug Shaw, President and CEO of Monotype said, "Our results show that Monotype is becoming an even more valued partner to creative professionals trying to solve the toughest responsive design challenges. Our solutions provide the freedom, flexibility and functionality required to streamline the creative workflow and deliver the best branded experiences." For Q3 2013 and full year 2013, the Company expects revenue of within $39 million to $40.5 million and between $165 million and $168 million, respectively. Furthermore, for Q3 2013 and full year 2013, Monotype anticipates non-GAAP earnings per diluted share in the range of $0.24 to $0.26 and $1.07 to $1.11, respectively The Full Research Report on Monotype Imaging Holdings Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/4946_TYPE]

Mitek Systems Inc. Research Report

On July 25, 2013, Mitek Systems Inc. (Mitek) reported its Q3 FY 2013 financial results (period ended June 30, 2013). Total revenue increased 22.8% YoY to $3.9 million, driven by revenue from Mobile Deposit, Mobile Photo Bill Pay, and Mobile Photo Quoting. Non GAAP net loss was $1.4 million or $0.05 per diluted share, compared to $1.2 million or $0.05 per diluted share in Q3 FY 2012. James B. DeBello, President and CEO of Mitek, noted, "With over 1,000 banks now licensing our technology, Mobile Deposit is a springboard for adoption of all of our mobile imaging solutions, resulting in this quarter's growth. Our Mobile Imaging solutions are becoming pivotal for companies that want to advance their existing customer relationships and attract their next generation of consumers." The Full Research Report on Mitek Systems Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/2625_MITK

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