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AMERICAS HIGHLIGHT EXACT'S HALF

Netherlands-based Exact said results improved for the half ended June 30, but earnings were down with revenue down in all categories. Net income was $15.4 million, down 21 percent when calculated in euros. Revenue of $145.5 million was off by 5 percent. Even the usual reliable source, maintenance, was down 1.7 percent because there was no adjustment for inflation, while license revenue fell by 2.2 percent. Exact's service revenue was down 18 percent for the first half.

However, the company said license revenue, which fell by 7 percent in the first quarter, grew by 1 percent in the second. The Americas region was a bright spot as revenue of $35.4 million was up 1.4 percent and EBITDA rose by 90.7 percent. License revenue was also up in the regiona. Exact also said it was starting to get traction with Globe, which was reintroduced into the United States after an admittedly botched first attempt. In a Webcast, CFO Max Timmer called Globe a "guided alternative for Macola customers" and that there was some migration from Macola to Globe. He noted that during the recession, some customers cancelled maintenance contracts. "Lots of people cancelled maintenance contracts. We are very actively and successfully working in getting these people back on board," he said. Surprisingly, Martijn Janmaat, CEO nominee, said the company was caught off guard by the resignation of Raj Patel, who served as CEO for five years. Janmaat, who said he signed up for one year, takes over on October 1. He said it was possible he would extend his tenure.

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