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EPICOR SPINS 2Q RESULTS Featured

Joseph Cowan, Epicor SoftwareIt was all an odd schedule--a company holding its earnings conference call 12 days after it filed the 10-Q for the quarter and the CEO bragging about the progress the company has made since he joined in October. Of course, later in the earnings call, CEO Joseph Cowan denied a Wall Street Journal report that Epicor Software is for sale. That was after he reported the company's recent Insights conference was, "The most surprising and motivational event I have ever attended."

That triggered my thought "of course that means it is for sale." One salient point of the call was Cowan's homage to Craig McCollum, EVP of the company's retail distribution group.  Cowan's judgment  is that what McCollum has done with the unit in the last two years is "a model for how we plan to transform our business." That included bringing in new management and talent and refocusing on core markets. Well, the $4-million increase in revenue from retail distribution for the second quarter ended March 31, came as the company reported a $4-million overall increase in revenue with the drop in retail solutions revenue and rise in ERP revenue a wash. Epicor ended the quarter with a 1.78-percent rise in revenue. And in a hyperbole-saturated event, Cowan vividly described the introduction of Epicor 10.  "Customers were literally blown away by the product," he said. There was no word on the extent of rescue operations.

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