Estimated reading time: 0 minutes, 36 seconds
ACTIVANT NET DOWN
Activant, which markets specialized financial software, reported that net income for the first quarter ended December 31 dropped to $3.5 million, down 22.4 percent from $4.5 million from last year’s corresponding period. Revenue for the most recently ended quarter was $89.8 million an increase of 1.9 percent from $88.1 million a year ago.
The drop came as the company increased spending with operating expenses of $42.4 million, up 7.2 percent from $39.5 million in last year’s corresponding period. The improved top line came as growth in the company’s wholesale distribution segment made up for the decline in the retail distribution business. Wholesale revenue reached $39.2 million for the first quarter, up 8.8 percent from just over $36 million a year earlier. Retail distribution income was $50.6 million, down 2.8 percent from $52.1 million.
Most Read
-
-
May 22 2017
-
Written by mark
The last year has been one of change—the cloud has…
-
-
-
May 22 2017
-
Written by BobWScott
The last year has been one of change—the cloud has…
-
-
-
May 19 2021
-
Written by BobWScott
Just what kind of year has it been for the…
-
-
-
May 25 2016
-
Written by mark
Annual Report: 2016 BSI Top 100 VARs The web has…
-