Northern, WI 5/3/12 (StreetBeat) -- Tysons Corner-based MicroStrategy Inc. (NASDAQ: MSTR) notched a 19 percent gain in revenue in its latest quarter as product license and service sales increased.MicroStrategy, which develops business software, said revenue in the first quarter of 2012 were $145.1 million compared with $122 million for the first quarter of 2011.
Product licenses revenue rose 37 percent to $37.5 million, while product support and other services revenue rose 14 percent to $107.6 million.
It took more money to make those sales. Operating expenses rose more than 20 percent in the first quarter of 2012 to $105.6 million. That contributed to a smaller bottom line as MicroStrategy reported net income of $272,000 in the current quarter. That compares with net income of $1.1 million in the year-ago period.
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