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PRODWARE BIZ WEAKENS IN 3Q Featured

Prodware, a Sage and Dynamics reseller based in France, saw sales worsen in the third quarter ended September 30. Revenue for the first half was down 6.1 percent from the first half of 2019.

But the approximately $37.8 million in third-quarter sales was 8.4 percent lower than a year ago. That left nine-month sales at about $138 million, a decline of 6.7 percent. SaaS revenue accelerated from the first half. First-half SaaS sales rose 18.2 percent for the nine months, 21.6 percent in the most recently ended. First-half net income. The big hit in the first half came from a 18-percent decline in revenue from  software integration services. For the first half, Prodware reported a loss of roughly $4.4 million, widening 31.5 percent over last year’s corresponding period. The company reports revenue some weeks before earnings are published so third-quarter net income has not been reported. First-half EBITA reached approximately $28 million, up 7.2 percent. That improvement stemmed from a roughly $29.7 million cut in payroll charges and related cost, an 18-percent drop in that area.

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