Erik van der Meijden, ExactExact didn't return to revenue growth. But it did slow the decline and posted a double-digit increase in EBITDA for the third quarter ended September 30. The Netherlands-based company reported EBITDA of about $12.8 million, a 42 percent-increase from last year's corresponding period. Revenue dropped to just over $70 million, a .9 decline from a year earlier. It 's probably fair to say the situation was actually better since revenue was up 1.7 percent in constant currencies.

Meanwhile, revenue from five products in its Specialized Solutions division dropped to roughly $22 million, down 5 percent from last year's corresponding period. Revenue from Longview and Lohn increased, but the gains were offset from lower revenue from the business units in the United States. Those products lines are Macola, Job Boss and Max, three manufacturing packages that have been on their own financially since Exact created the Specialized Solutions organization last year. Revenue got a boost from subscription revenue, which rose by 43 percent year over year. Exact did not state the growth rate for Exact Online, but noted the launch of that low-end accounting product in the United Kingdom during the quarter. The cloud package was introduced in limited release in the United States earlier this year and is supposed to be in the market in full force during the current quarter.  Exact Online Starter for the self-employed was also introduced. In a prepared statement, CEO Erik van der Meijden noted the quarter's progress, commenting that "Attrition rates improved and direct sales in larger customer segment in the Netherlands has led to increased deal value in new business wins."

Last modified on Friday, 06 December 2013
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