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CDC SWINGS TO LOSS
CDC Software, which markets the Ross ERP and Pivotal lines, reported a loss of $3.8 million for the second quarter ended June 30, compared to net income of $3.1 million in last year's corresponding period. Revenue rose to $56.4 million in the most recently ended period from $52.65 million a year ago. The main culprit in the loss was increased spending. Sales and marketing expenses rose to $13.1 million, up almost 30 percent from $10.1 million a year earlier.
R&D spending increased to $10.5 million, a rise of 22 percent from $8.6 million. The company is on a path in which new sales are increasingly coming from subscriptions, not software licenses. Second-quarter license revenue dropped to $8.7 million from $8.8 million while subscription income rose to $4.7 million from $2.8 million.
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