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by Alan Alper, MA Editorial Staff
Posted on Friday, April 07, 2006 5:14:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Strong results come as acquisition of Swedish ERP vendor Intentia enters its final stages. |
Approaching what it hopes is the home stretch in its prolonged effort to acquire manufacturing-minded ERP software vendor Intentia International AB, Lawson Software Inc. yesterday disclosed fiscal third-quarter results that suggest the merged companies will have reasonable momentum moving forward. For the period ending February 28, Lawson reported revenues of $87.7 million, a 6% increase from the like quarter last year. Revenue growth, as well as prudent expense reductions, contributed to a three-fold surge in operating income to $10.4 million compared with the corresponding period last year, the St. Paul, MN-based company said. Lawson, which primarily focuses on mid-market healthcare and financial services concerns, told financial analysts during a conference call that it expects to consummate a ten-month marathon effort to buy Stockholm-based Intentia by month's end. Closure of the acquisition was pushed back late last year from January 31 to April 30, 2006 to accommodate regulatory requirements on both sides of the pond. Intentia shareholders have until April 24 to tender their shares; Lawson shareholders are expected to meet on April 17 to vote on the deal. [Click to continue] |
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