The Sweden-based company did not present a great deal of detail but noted it is taking “prudent cost-control measures” in case of a downturn in the next two quarters. EBITDA increase to roughly $32.4 million, an increase of 23 percent, 18 percent in constant currency. IFS continued to be unusual compared to other financial software vendors showing strong license revenue growth, which leaped 39 percent to approximately $41.7 million, rising 36 percent in constant currency. Maintenance revenue hit about.$56.8 million, up 25 percent, 22 percent in constant currency. Consulting revenue increased to about $59.4 million, an increase of 14 percent, up 11 percent in constant currency.
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IFS REVS RISE 25 PERCENT Featured
Revenue for IFS, the sister company to Acumatica, rose by 25 percent to about $179.8 million for the first quarter ended March 31. That was 22 percent in constant currency.
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