However, net income nearly tripled to roughly $3.2 million and the company paid out its first-ever dividend. CEO Thomas Honoré said that 76 percent of sales now come from focused industries, with 34 percent of the overall result from manufacturing. Meanwhile, U.S. problems are lasting longer than first expected. “The U.S. is normally one of our strong markets,” said CFO Hans Henrik Thrane. But the company failed to convert leads here late in 2013. “We are currently executing a recovery plan that includes a much stronger focus on sales. But it is progressing slower than expected.” Thrane’s first and second sentences are a repeat of the first quarter webcast statement. However, instead of predicting recovery this year, Columbus now does not see that happening until 2015.
COLUMBUS U.S. RESULTS PLUNGE Featured
Financial results for consulting and reselling firm Columbus plunged in the United States for the first half ended June 30. EBITDA for this country dropped by 83.6 percent to about $173,000 while revenue fell 24.7 percent to around $13.7 million. Combined with the U.S. results, a drop in sales in third-party software sales, the impact of currency drove revenue for the most recently half down 3.7 percent to about $78.4 million. Copenhagen, Denmark-based Columbus is executing a strategy of reducing its reliance on third-party products, such as Microsoft, and selling its own products.
