11:47 AM EDT, 05/23/2024 (MT Newswires) -- Computer Modelling Group ( CMDXF ) overnight Wednesday said its fiscal fourth-quarter profit rose 38%, reflecting contributions from its September, 2023, acquisition of Bluware.

The company, which offers oil and gas reservoir-modeling software, said it earned $7.2 million, or $0.09 per share, in the quarter ended March 31, up from $5.2 million, or $0.07 per share.

Revenue rose 59% to $32.3 million from $20.3 million with its Bluware acquisition accounting for 44% of the increase.

For the full year ended March 31, net income rose to $26.3 million, or $0.32 per share, from $19.8 million, or $0.25 per share. Revenue rose to $108.7 million from $73.8 million..

Computer Modelling ( CMDXF ) shares were last seen up $0.64 to $11.30 on the Toronto Stock Exchange.

Price: 11.35, Change: +0.69, Percent Change: +6.47