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QURIUS RENEWS DEBT REPAYMENT
Qurius, a Dynamics reseller headquartered in the Netherlands, has resumed debt payments that were suspended earlier this year. The debt was about $3.7 million. However, during the third quarter ended September 30, Qurius made a voluntary payment of $2.4 million from the proceeds of its sale of its Multiplus subsidiary, a Norwegian unit not involved in the Dynamics market.
Qurius also discontinued a six-person Danish office in May and its 78-person Swedish subsidiary in June, both Dynamics businesses. The company operates primarily in Germany, the Netherlands and Spain. For the third quarter, the VAR's revenue dropped to $135.8 million from $138.45 million, off 6 percent when calculated in euros and it lost about $2.8 million, compared to a loss of roughly $2.84 million. As with most midmarket resellers, license income took a hit, dropping 25 percent for continued operations during the first nine months of 2009. Maintenance revenue fell by 11 percent while service income dropped 1 percent. Only hardware revenue, which rose by 5 percent, was up over 2008 results.
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