A 12.4-percent drop in software license revenue held down Infor’s results for the year ended April 30. Nevertheless, the company rebounded to a profit of $142 million for fiscal 2019, compared to a loss of $192.1 million for fiscal 2018.

Revenue for the recently ended year was $3.17 billion, up 3.3 percent from $3.12 billion the prior year. Executives pointed to the switch from software sales to cloud subscription revenue as producing the result. “It’s a natural evolution of the market,” CEO Charles Phillips said during this week’s earnings webcast. Infor expects license revenue will continue to be volatile and noted this year’s results included fewer large transactions. Subscription revenue reached $645.6 million last year, an increase of 21.3 percent from $532.3 million for fiscal 2018. The number of SaaS transactions for FY19 was up 33.7 percent over 2018 with a 77 percent increase in transactions larger than $1 million. Infor helped the bottom line by cutting operating expenses to $2.76 billion, off 1. 9 percent from $2.81 billion

 

Last modified on Friday, 28 June 2019
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