Sales outside of France were 49.1 percent of group revenues, which was a slight increase over a year ago. Prodware carries Dynamics and Sage software products although in March the company sold its Sage X3 business to 4CAD because of the limited development environment for X3. This reminds me that when Sage reported its earnings for the half ended March 31 last week, it noted that sales of X3 in France, the application's home country, were flat, although they were up 20 percent worldwide. Maybe Prodware was onto something or was Prodware a cause of the problem?Last modified on Friday, 15 May 2015
PRODWARE REVS FLAT, ORGANIC RISES Featured
France-based ProdWare has reported revenue of about $48 million for the first quarter ended March 31, even with last year. However, the company said organic revenue rose by 4.7 percent. I should say apparently as Prodware continued its practice this week or releasing results in French, not English. When you select English, the earnings press release that is posted on the French version, disappears. The English versions tend to appear days later. It looks like SaaS subscription revenue hit roughly $3.6 million, about 7.5 percent of the total.
Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.