Revenue in 2017 was $39 million, down 1.5 percent from the prior year. Reckon Group CEO Clive Rabie said the results have "supported our long-held view that the sum of parts was always worth more than the whole," In November, the company agreed to sell its Accountant Group to MYOB. Earlier in the year, Reckon spun out its document management business, including Smart Vault, which is sold in this country, as part of a new company, GetBusy.com. Reckon is now primarily of interest here because its Reckon One financial software competes with Xero in Australia, New Zealand and the United Kingdom.
SPINOFFS CUT RECKON RESULTS Featured
Australia-based Reckon, which markets low-cost cloud accounting software, reported results for 2017 that were dramatically changed by divesting much of its business. Reckon had a profit of about $6.1 million for the year ended December 31, up 30 percent from the past year.
