BEA Systems, Inc. (Nasdaq: BEAS) rose 7.12 to 56.25 Wednesday afterannouncing a contract with Charles Schwab & Co.
Under the three-year license agreement, Schwab will use BEA’s WebLogic as aplatform for “a number of mission-critical applications across the company,BEA said.
The platform will be used in “several high-growth areas” at Schwab,including wireless trading in the U.S. and Hong Kong; trading systems forSchwab global affiliates in Canada and Japan; and Schwab Institutional, thefirm’s program for independent fee-based advisers.
BEA Systems, based in San Jose, California, makes e-business software. Forthe third quarter, the company reported third-quarter revenue of US$224.0million, up 77 percent from a year earlier. Pro forma net income rose 200percent to $31.3 million, or 7 cents per share, from $10.4 million, or 5cents.
BEA says its WebLogic software, which works with the Java applicationserver, is the leader in its group. Citing a Giga Information Group survey,the company said 56 percent of companies chose its systems, compared with 33percent for IBM.
“Data from Giga indicates that the market share gap between BEA and ourcompetitor has grown substantially, demonstrating our belief that a networkeffect is driving the growth and market acceptance of our platform,” said BEA chairman and chief executive officerBill Coleman in a statement Wednesday.
“Our pipeline and visibility have continued to grow and have shown noevidence of slowing down, as our customer orders have continued at aconsistent pace,” Coleman added.
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