CFO Hans Henrik Thrane said during a recent earnings webcast, however, EBIDTA rose by 78 percent because of cost cutting. He also reported stems taken to counter weak sales are working. “We are beginning to see positive progress in the United States.” American revenue was about $14.1 million for the recently ended quarter. Services in this country tumbled by 32.7 percent to about $8.7 million and I have to assume if product isn’t being sold, services aren’t going to do well. CEO Thomas Honoré described the progress this way: “We see the pipeline is picking up in the U.S. and we are winning deals,” he said. The company cut 30 consultants in the U.S. last year and that is holding down the ability to grow. However, the American operation is beginning to hire, although the CEO does not foresee growth this year. Honoré does expect a significant improvement in American EBIDTA. Overall revenue was roughly $76 million, an increase of 51 percent over the year ago period, mostly owing to the impact of iStone. Before tax profit was about $5.2 million, an increase of 93.3 percent. While iStone is concentrated in Sweden, it is an M3 (Lawson) dealer and Columbus intends to expand that product line globally. The company was also hit with declines in three of its important currencies—the United States Dollar, British pound and Russian Ruble.