Overall, the results are "primarily driven by solid growth in our services business where revenue grew by 11 percent," CEO Thomas Honoré said during this week's earnings webcast. He also said several acquisitions during the last two years, including Interdyn BMI, contributed significantly. Net profit after tax was about $11.8 million on revenue of about $173.1 million for 2016. North American revenue of about $62.3 million was up 10.5 percent.Last modified on Friday, 17 November 2017
SERVICES BIG IN COLUMBUS' YEAR Featured
Growth in service revenue was a major factor in financial results for Columbus for the year ended December 31. The Copenhagen, Denmark-based reseller this week reported a 25-per cent rise in net profit after tax on a 6-percent increase in revenue. A major factor in the improved services segment was increased chargeable hours in operations in Norway and the United States.
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.