Estimated reading time: 1 minute, 5 seconds

UNIT4 SAAS REVS LEAP; AXES POLISH CEO

Uni4 LogoSaaS and subscription revenue grew by 20.1 per cent for Unit4, the company that markets the Agresso and Coda lines, for the half ended June 30. That outstripped the 4 percent increase in total revenue for the Netherlands-based company. But results in North America outpaced those figures, increasing by 25 percent over last year's corresponding period.

Unit4 did not provide revenue figures for the continent. Despite the revenue increases, net profit dropped to about $6.1 million, off 37.2 percent from a year earlier. Increased depreciation expense and the revaluation of an interest rate swap were cited as the culprits. Revenue hit about $289.4 million for the first half of 2012. With good results in hand, Unit4 is "recruiting sales and marketing capacity in North America and Europe". There was no description in the company's prepared statement about how much the effort will increase in terms of personnel or spending. Meanwhile, the situation is Poland was one of those experiences no company wants to go through. After governance systems detected irregularities in financial reporting, Unti4 replaced its CEO in that country. The report said that irregularities involved trading partners and that the first began before it acquired Teta, which became the Polish unit, in July 2010. Unit4 restated results for 2011 and took about $11.1 million off revenue. It has hired forensics experts to examine the “potential off-balance sheet exposure”.

Read 1674 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.