Intergraph reports revenue and profit decline for Q1

Coming off of Intergraph’s user conference this week, the company’s mapping division reported declining year over year revenues and profits. Both declines were modest. However, any decline should be a signal that the company is not headed in the right direction. Q1 is typically a slow period for the company but I’m sure that a decline in profits is not what CEO Halsey Wise had in mind. If his three phase plan of NOW-NEXT-AFTER NEXT continues in this direction, the company will be an ‘after thought’ in the geospatial marketplace. I’m sure in the mind of INGR management that things are going well. But you can’t hide from your competition. The quarterly profit was $600K and the operating margin was a mere 1.3%. By comparison, MapInfo Corporation reported its Q2 numbers during the same period with a profit of $3.9 Million, up 35% with an operating margin of 11%. And this is on revenues of approximately $35 Million versus Intergraph IMGS division of $49.3 Million. The numbers tell the story.