Mid-market ERP purveyor Lawson Software, Inc. reported revenue increases in its third fiscal quarter, reflecting the upward trend in the general economy. However, the bottom line took hits from acquisition expenses, increased employee-related operating expenses, and currency fluctuations.
For the quarter ended Feb. 28, 2010, the enterprise applications vendor racked up total revenue of $186.2 million, up 7% from $173.8 million a year earlier. Net income slid 71% to $1.8 million, from $6.2 million in the fiscal 2009 third quarter. Lawson said its acquisition of Healthvision, completed in January, negatively impacted net income by $1.5 million while contributing $4.8 million to revenue.
Calling it “a very good quarter,” Lawson President and CEO Harry Debes told analysts on a conference call Wednesday, “We aren’t back to 2008 levels of business activities yet, but more customers are moving forward on software investments. All in all, our Q3 results were very positive.”
License revenue, in fact, made a strong showing year over year, up 28% to $31.9 million. Maintenance revenue climbed 4% to $89.1 million, and consulting revenue of $65.3 million was up 3%.