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EXACT REVENUE FALLS

Exact logoExact reported that revenue for the first quarter ended March 31 fell to about $75.4 million, down about 1.7 percent from last year’s corresponding period when the change is measured in euros. The company reported, however, that on a like-for-like basis revenue rose by 3.3 percent. I had to look up the term – which is the same concept as same-store sales in retail – and since there wasn’t much in acquisition activity overall, it’s probably a pretty good metric.

Exact is continuing to close offices in countries outside of what it refers to as a group that are “headquarters rich.” In January, it announced closure of offices in Thailand, Vietnam, Hong Kong, Indonesia and the Philippines. In early April, it said it would shutter those in Russia, Hungary, Romania, Slovakia, Austria, Switzerland, Italy, Portugal, Ireland, South Africa and Morocco.

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