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SERENIC TURNS IN GOOD QUARTER
Considering that its second quarter ended on August 31, before many thought the economy had turned around, nonprofit accounting software vendor Serenic turned in a bang-up performance. So it’s a lot smaller than the other software vendors reporting publicly. But its results showed a 23.3 percent increase in revenue, which rose to just under $3 million Canadian.
Meanwhile, EBIDTA jumped to $530,835 Canadian, up more than seven times last year’s $69,667. The company, which markets Navigator line for Dynamics NAV, said revenue increased for all of its sources of revenue, licenses, client services and consulting and maintenance contracts. Software license revenue rose to just under $1.3 million Canadian, up by 17.2 percent over last year’s corresponding quarter.
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