Property and casualty insurance solution provider Guidewire Software has reported that its total revenues for the third quarter of 2012 stood at $57m, up by 28% compared to the revenues earned in the same period last fiscal.

For the third quarter ended on 30 April 2012, its License revenue rose by 22% to $21.7m, while revenues from maintenance stood at $7.8m, with an increase of 39% from the year ago period, and services revenue was $27.6m, up by 31% from the year ago period.

The firm said that its yearly total revenue at the end of the third fiscal quarter stood at $215.5m, up by 28% on a year-over-year basis and its GAAP operating income was $4.8m for the third quarter of current fiscal, against $4.7m during the corresponding period last year.

Non-GAAP operating income registered a robust growth of 40%, which stood at $9.1m million for the third quarter of fiscal 2012 and its adjusted EBITDA was $9.9m, up 43% from the comparable period in fiscal 2011.

Guidewire Software chief executive officer Marcus Ryu said the firm remains focused on expanding its emerging leadership position in serving the P&C industry’s need for an integrated policy, billing, and claims software suite.

As of 30 April 2012, the company had $201.9m in cash and cash equivalents, an increase from $169.6m at the end of second quarter of 2012.