Estimated reading time: 1 minute, 21 seconds

EPICOR FIRST QUARTER REVS RISE

epicor logoEpicor Software has reported that it expects revenue for the first quarter ended December 31 would range from $218 million to $219 million, a 4- to 5 -percent increase year over year. In a conference call, CEO Pervez Qureshi said software license revenue would be up 8 to 10 percent from a year earlier.
Epicor 9 continues to be a success story. Qureshi said there were 450 customers using the software at the end of September. For new sales of Epicor 9, almost 30 percent were outside of the United States and Canada. The call came as the company, the result of the combination of Epicor and Activant, reported results from its inception through September 30. While Epicor is no longer a publicly held company, it has a  publicly held debt issue outstanding and I would assume that is the reason for this report. Epicor is offering to trade notes with a face value of $450 million for another issue bearing exactly the same interest and that probably ends any obligation to report results. The new issue will not be registered and publicly traded. Epicor reported revenue of $305.8 million from its inception on May 15 through September 30. It lost just under $56 million, with the bottom line affected by factors involving the acquisition. these items included restructuring costs of $42.6 million, a goodwill impairment charge of $29.8 million, a loss on asset sales of just over $11 million and acquisition-related costs of $4.6 million. Its pro forma figures showed revenue of $777.1 million and a loss of $105.3 million for the year ended September 30. Since Activant was privately held, there are no figures to quickly compare year-earlier results. However, for the year ended Dec. 31, 2010, the predecessor Epicor had revenue of $369.2 million,
Read 1532 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.