|
by Emily-Sue Sloane, MA Editorial Staff
Posted on Friday, October 03, 2008 2:28:49 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | ERP vendor had to rely on maintenance revenue rather than new business as its European customer base went on holiday. |
| Keywords: | ERP vendor, disappointing Q1 |
Lawson Software Inc. squeaked out a 2% gain in total revenue for its fiscal 2009 first quarter, despite a 17% decrease in software license fees. The anemic sales couldn’t offset expenses that pushed the company into the red.
The ERP provider reported total revenue of $190.9 million, boosted by 13% growth in maintenance revenue. Consulting fees were down 3%. Lawson recorded a net loss of $2.5 million, reversing a year-earlier gain of $5.5 million.
Contributing to the loss were higher taxes and lower interest income from investments, a $1.9 million reduction for sales incentive compensation expense that should have been recorded in the fourth quarter, and currency fluctuations. Also included in the GAAP earnings result were amortization and restructuring charges and other expenses. However, operating income of $6.2 million was up 14% from a year ago.
[Click to continue] |
|
|
|
|