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EPICOR REVS UP 13.1 PERCENT
Epicor’s loss rose to $1.8 million for the first quarter ended March 31, an increase from $32,000 in red ink in last year’s corresponding period. That came as revenue rose to $112.3 million for the most recently ended period, up from $99.3 million a year earlier. The report comes following Epicor’s recent agreement to be purchased by private equity firm, Apax Partners, which will merge the operations of Activant into Epicor.
Epicor did not hold an earnings webcast to discuss the results. The company said the increase in revenue stemmed primarily from the growth in license revenue, which rose to $21.1 million, an increase of 30 percent from $16.2 million a year earlier. Among the other revenue categories, consulting revenue hit $36.6 million, up 17.2 percent from $31.1 million. Maintenance revenue rose to $50.5 million, an increase of 5.2 percent from just under $48 million. A major factor in the loss was $4.9 million in interest expense, the same amount paid in the prior year.
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