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MicroStrategy Inc. reported net income of $11.6 million for the second quarter, compared to $10 million a year ago.

Revenues for the quarter increased 23 percent to $107.5 million from $87.8 million in the same quarter last year.

The McLean-based business software company (NASDAQ: MSTR) product licenses revenue for the second quarter was $28.9 million versus $20.5 million for the second quarter of 2009, a 41 percent increase. Product support and other services revenue for MicroStrategy's core business intelligence business in the second quarter was $74.5 million versus $64.1 million for the second quarter of 2009, a 16 percent increase.

MicroStrategy saw gains in both software licensing sales and product support and services, which now accounts for the majority of its revenue.

Operating expenses for the second quarter were $68.8 million versus $55.3 million for the second quarter of 2009, a 24 percent increase. During the second quarter, MicroStrategy capitalized $2.2 million in research and development costs associated with the development of its MicroStrategy Mobile software, while no software development costs were capitalized during the second quarter of 2009.

MicroStrategy Mobile, a platform that extends business intelligence apps to the iPhone and iPad, was made generally available on June 30, and introduced at MicroStrategy's user conference in Cannes, France, on July 6.

In a statement MicroStrategy President and CEO Michael Saylor said: "The mobile Internet is the next wave of information technology. Many people prefer to consume business intelligence on their mobile devices rather than on their desktop computers, since mobile devices are more portable, always on, and always connected."

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