The company claims a channel with 1,500 members and Philips said Infor is adding about 200 a year. This is the first full year Infor has reported since changing its year end from April, which means the year-ago period had 11 months. For fiscal 2016, the company had net income of $121.7 million, compared to a loss of $76.2 million for the 11-month period. Revenue reached $2.69 billion, compared to $2.44 billion for the shortened 2015. Infor said revenue was up 15.5 percent excluding a 5.1-percentage-point negative impact of foreign currency. Average deal size rose with a 14.3-percent increase in the number of deals valued at more than $1 million for the year just ended. Infor has made a number of adjustments that reflect increasing cloud revenue, including the establishment this year of a service organization that incorporates many operations, such as classic maintenance, to provide a holistic approach Philips said is required by the web-based business. "Our transition to cloud has been much faster than anyone anticipated," he said.Last modified on Saturday, 25 June 2016
INFOR: VAR GROWTH STRONG IN 2016 Featured
Infor said its channel had strong growth in the year end May 31 2016. The software vendor made that statement this week in a webcast about financial results for the fiscal year CEO Charles Phillips said the channel had 14-percent revenue growth and that during the year, Infor also consolidated its regional channel operations in one global organization led by SVP Jeff Abbott. As a result, "We are attracting a lot more partners," Phillips said.