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SERENIC REPORTS STRONG Q3
Nonprofit vendor Serenic turned in a good third quarter for the period ended November 30, as it reported net income of $154,064 compared to a year-earlier loss of $385,817 on a 13.6 percent increase in revenue. All figures are in Canadian dollars. The results pushed nine-month revenue to $8.3 million, a 24.7 percent increase over $6.7 million a year earlier.
Serenic also said that software license sales rose by 37.4 percent. Sales were aided by the November release of a new version of Serenic’s Navigator, a nonprofit system for the Dynamics NAV platform, and by the company’s continuing to hold the line on expenses. It noted the direct sales force and resellers marketed into several niche markets in the United State and Africa. Customers in these niches include native bands, a humanitarian organization and the finance department of an African country.
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