Investors Cheer Ariba, Inc. (ARBA) FY Q1 2009 Financial Results
Ariba, Inc.’s shares are currently trading at $7.80, up nearly 14% from yesterday’s close, after the company announced its results for the first quarter of fiscal year 2009 ended December 31, 2008. Bob Calderoni, Chairman and CEO, Ariba, stated, “I am pleased with our performance this quarter. We increased our subscription software revenues over 70% and significantly increased our non-GAAP net income year-over-year in the face of a very challenging macro-economic environment. This reflects how customers are increasingly using Ariba’s spend management solutions to reduce their operating costs and better manage their working capital.” Total GAAP revenues for the quarter…