Adjusted for a change in accounting standards, it was up 1.7 percent. Net income of approximately $10.4 million was up 15.6 percent, up 17.4 percent with the accounting adjustment. The company reported revenue in mid-February. The company ended the year on December 31 with revenue of roughly $203.9 million up 7.3 percent from 2018. EBITDA rose 10 percent adjusted for the change in accounting standards, eliminating the impact of the lease restatements required under IFRS There was also a sharp drop in interest expense to about $7.3 million, a drop of 26.5 percent from the prior year. In the prior revenue report, Prodware said SaaS sales reached roughly $42 million, a rise of 34.8 percent from the prior year. SaaS revenue comprised 20 percent of the total, double the share of three years ago. Turnover in 2019 in French-speaking regions jumped to $82.1 million for an increase of 9.7 percent, while international activity continued to expand with a 5.7 percent increase in turnover to reach $121.6 millionLast modified on Wednesday, 11 March 2020
PRODWARE REPORTS THIN OPERATING INCOME Featured
Sage and Dynamics reseller Prodware had a robust bottom line for 2019. But operating income of about $21.3 million, showed an increase of .3 percent over 2018.