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by David R. Brousell, MA Editorial Staff Posted on Wednesday, July 19, 2006 4:00:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    Continuing a string of positive financial results, enterprise software provider IFS today reported a second-quarter profit of SKr 13 million on revenue growth of slightly more than 5% to SKr 561 million. License revenue grew 41% in the quarter. The second-quarter earnings for the company, based in Linkoping, Sweden, were actually down sharply from the corresponding period in 2005, when the company earned SKr 23 million. The lower earnings, company management said, were due to the effect of disposals in last year's second quarter which increased profitability. Earnings before interest and taxes were SKr 23 million, compared with SKr 27 million in the like period last year. Nevertheless, the performance in this year's second quarter represented the seventh consecutive quarter of profitability for IFS and followed full-year profitability in 2005, reversing a string of annual losses that began in 2001. To combat the losses, IFS undertook a recovery program that resulted in cost cutting, headcount reductions, a focus on specific vertical industries and a change in sales strategy to rely more upon partners and resellers. [Click to continue] |
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