Tectura was once more than $100 million worldwide. The goodwill for UXC Eclipse rose by only $17 million, most of that presumably from Tectura. Remembering the one accounting course I took, I recall goodwill is the excess of the price paid over book value, which means there wasn’t a big premium paid. No surprise. Worldwide, UXC closed the year with a stronger second half, although it still did not make its plan. Managing Director Cris Nicolli said the first half was hurt by weak performance in the infrastructure market. That meant net after-tax profit from continuing operations dropped 31 percent to about $14.5 million. Company revenue was roughly $591 million for the most recently ended year, a 9.3-percent rise. In the printed financial report, Nicolli wrote, “This market and the strength of Microsoft in North America, presents a strong growth opportunity for UXC, especially given the successful integration of the acquired business and the synergies being created.”
RESULTS HINT AT TECTURA WEAKNESS Featured
In December UXC, an Australian technology company, acquired Tectura North America under its UXC Eclipse subsidiary. It was the first step in the dismemberment of the once worldwide America-based Microsoft VAR. In its report for the year ended June 30, UXC noted the deal added 180 staff from Tectura in the United States and Canada. That’s a major hike as that means there are 240 UXCers on this continent Revenue is expected to rise by about 46 percent to more than $64.2 million annually.
