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UNIT4 RESULTS UP SLIGHTLY
Unit4, owns the Agresso and Coda lines, reported a slight increase of EBITDA on a 2-percent rise in revenue for the first quarter ended March 31. Although growth was slight, CFO Edwin van Leeuwen said in a prepared statement that was a better than expected performance, “since we initially projected that Q1 2013 would end below the same period of last year.” EBITDA rose slightly to $28.6 million while revenue reached about $152.95 million.
Van Leeuwen said there were a number of large SaaS deals completed in the first quarter whose revenue will be recognized gradually during the second half of 2013. The company said the Benelux region had double-digit revenue growth with strong performance in healthcare. FinancialForce.com had a record quarter in bookings and run rates with revenue up by 90 percent over the prior year and an extremely strong pipeline and increasingly larger customers. Unit4 is the majority investor in the cloud applications company.
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