And instead of filing a press release with comments on performance, the company instead submitted bullet points from its earnings presentation. Infor lost $186.2 million for the most recently ended year, compared to net income of $35.2 million for fiscal 2016. Revenue for the most recently ended 12 months was $2.86 million, an increase of 6.1 percent from $2.69 billion the prior year. The cloud contributed to revenue growth. Cutting into GAAP profitability was "significant" non-cash executive compensation following the investment of $2 billion by Koch Industries during the year. Another difference in the filing format was the presentation for the privately held company was labeled as a Lender Update, although perhaps that is just because the 10-K will be filed next week. The presentation was made by controller and chief accounting officer Jay Hopkins, so you have to wonder about the whereabouts of CFO Kevin Samuelson. Is something up? Analysts must have been briefed as they did not question the sub.
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INFOR 2017 REPORT: A BIT ODD Featured
Infor's report for the year ended April 30 was a bit unusual and probably more interesting the actual numbers. At the beginning of its earning conference call, it was stated CEO Charles Phillips was not available. That's not something that happens often on a fiscal year presentation.
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