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by Emily-Sue Sloane, MA Editorial Staff Posted on Tuesday, April 10, 2007 4:40:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Intentia acquisition continues to dilute earnings for the ERP supplier, while piling on revenue. |
| Keywords: | Lawson earnings, Lawson third quarter, Intentia acquisition, mid-market ERP, M3 applications, on-demand ERP |
ERP provider Lawson Software Inc. reported a whopping 118% year-over-year increase in revenue for its 2007 third quarter — its third full quarter incorporating its prolonged acquisition of Intentia International AB — but the company failed to turn a profit. Lawson reported a GAAP (generally accepted accounting principles) net loss of $9.8 million, or $0.05 per share, in the quarter ended Feb. 28, 2007, reversing year-earlier net income of $10 million, or $0.09 per diluted share. The company attributed the loss to costs and operating expenses related to the Intentia acquisition, which has taken more than a year to accomplish. Also, the company took a restructuring charge of $11.5 million in the quarter for severance and related benefits for roughly 350 positions that will be eliminated in the United States and Europe over the next year as work is shifted to a global support center in the Philippines to reduce operating costs. Lawson expects to fully realize the benefits of this shift in fiscal 2009. [Click to continue] |
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