Estimated reading time: 0 minutes, 51 seconds

EDGEWATER RESETS OPERATIONS Featured

Jeremy Rutherford, Edgewater TechnologyEdgewater Technology hopes that the current period is the pause that refreshes. As the company has reorganized its consulting operations, it intends that increased marketing and sales efforts will boost grow in its three business units.

Acting CEO Jeremy Rutherford, whose investor group ousted former CEO Shirley Singleton in March, said during this week's earnings webcast the company is enlarging sales and marketing operations for all units: Fullscope, the Dynamics VAR; Renzel, an Oracle partner; and classic reselling. "Our units are in excellent, growth-oriented markets," he said. However, with Oracle refocusing on cloud-based applications "Customers are evaluating their cloud adoption strategy," he said.The result was a downturn in earnings and revenue. The company lost $860,000, compared to net income of $1.3 in last year's corresponding period. Revenue dropped to $30.3 million in the most recently ended period, off 10.9 percent from $34 million. The bottom line reflected a change in valuation of tax assets. But operating income also dropped to $617,000 from slightly less than $3 million a year earlier. However, Rutherford expects the Oracle business to pick up.

Read 907 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.