Management had expected the result and “we expect a continued decline in the second quarter,” CEO Thomas Honoré said in this week’s earnings webcast. “The United States is a hindrance to our financial performance,” he added. Columbus is looking for a new general manager for the continent. First-quarter revenue for the North American was about $11.6 million while EBIDTA dropped to about $255, 000. Revenue for Columbus software licenses, the company’s own line, dropped 47.6 percent to approximately $347,000. Columbus software subscription income dropped 12.6 percent to about $2.2 million. However, Honoré noted, “We are convinced our software sales will come back to positive growth in 2019.” External cloud revenue rose 58.4 percent to roughly $1.1 million. The biggest source of revenue, service revenue rose by 3 percent to $57 million and was up organically by 8.5 percent. The main factor is improvement in revenue from the Columbus Care program.Last modified on Friday, 03 May 2019
AMERICAN RESULTS HURT COLUMBUS Featured
Weakness in the United States continue to hurt financial results for Denmark-based Columbus. North American revenue for the first quarter ended March 31 dropped by 11.2 percent and EBIDTA by 83 percent from last year’s corresponding period, the reseller and software developer said.