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RADIANT'S NET JUMPS AS SALES SLIDE

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Radiant Systems, a POS specialist, reported that net income more than doubled while its revenue dropped 14 percent for the third quarter ended September 30. The company, whose products include the CounterPoint POS application, reported earnings of $3.4 million, a jump from $1.6 million for last year's corresponding period.

Meanwhile, revenue dropped to $70.9 million, down from $82.4 million a year earlier. The earnings increase stemmed from holding the line on expenses, along with the fact that the prior year included a  restructuring charge of $2.1 million. Radiant took a big hit on revenue from systems sales, which dropped to $29.6 million, down 30.5 percent from $42.6 million in last year's corresponding period. Income from professional services dropped $7.8 million down 24.2 percent from $10.3 million. The company was able to make up some ground from maintenance, subscription and transaction services, which rose to $33.5 million, up 13.6 percent from $29.5 million a year ago.
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