Estimated reading time: 1 minute, 45 seconds

LOOKING AT INFOR’S NUMBERS

Infor logoThe more astute in the audience may have figured this out. But apparently with Infor’s senior note exchange last year, it ended up as a public reporting, but not publicly held company. For the third quarter ended February 28, the company lost $72.8 million, up from the $29.1 million in red ink in last year’s corresponding period. Revenue for the most recently ended period was $663.4 million, up from $644.7 million.

The company had operating income of $110.4 million for the most recently ended quarter, up from $73 million a year ago. But that was wiped out by interest expense of $103.5 million and other expense of $89.5 million. That latter category includes items such as loss on currency fluctuations. Much of the SEC filings describe how Infor absorbed the former Lawson and  recapitalized debt in April 2012.  During that process, the Infor organization combined with GGC Holding, which presumably took its name from Golden Gate Capital, Infor’s source of funds, to become a new company known as Infor. Through a variety of transactions, funds affiliated with Golden Gate Capital and Summit Partners invested $550 million in Infor Enterprise, of which $325 million was contributed as equity to Infor, and $225 million was used to repay a portion of a term loan from Lux Bond Co. Lux also forgave $344 million that Infor owed it and this was contributed as capital. For all practical purposes, this was a debt-for-equity swap. Infor’s reporting resembles that of Epicor Software, which is also privately held but continues to be a report. Neither company goes out of it way to give earnings wide publicity and since they don't have publicly traded stock, they don't pop up on Wall Street alerts. In fact, Infor has listed its quarterly earnings calls on its website, but when I tried to access that, the voice system asked for my identification as a lending institution and the company's investor contact did not respond to questions about its accessibility. For the nine quarters, Infor had revenue of $1.98 billion, up from $1.85 billion in fiscal 2012. Of that total, $371.3 million was from the America’s, $233.3 million from EMEA and $58.8 million from Asia Pacific.

 

 

Read 1771 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.