That helped the company overcome the tumbling Russian ruble and a still-troubled business in Norway. In this week's earnings webcast CEO Thomas Honoré said the year ended December 31 was "Overall 2015 was a very good year for Columbus, with record results for the third year in a row." Net income was about $10.2 million, an increase of 32.7 percent over 2014. That included a currency gain of roughly $259,000, compared to a currency loss of about $332,000 the prior year. Revenue reached around $170 million, up 28 percent from 2014. BMI was the single biggest factor in the M&A action. Honoré said the company had added nearly 200 employees—BMI alone had 125. Revenue from the United States, which includes the separate Columbus U.S., was about $59.3 million, a rise of 161.3 percent. Dragging down results was revenue from the Norway subsidiary which fell 42.2 percent to approximately $8.6 million. Russia revenue dropped 20.7 percent to roughly $11 million, mostly from the shaky Russian currency.
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M&A DRIVES COLUMBUS RESULTS Featured
Four acquisitions led reseller and software developer Columbus to double-digit increases in revenue and net income last year. And the biggest impact was in the United States which benefited from 2015's acquisition of InterDyn BMI and Sherwood Systems. In fact, the increase in Columbus' revenue for the year ended January 31 was 245.2 million euros and the increase from the U.S. was 241.4 million euros.
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