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EPICOR HAPPY WITH QUARTER
Epicor had such a good period for the fourth quarter ended December 31 that CEO George Klaus forgot to declare that Epicor is totally focused on direct sales. Or maybe that's because the company recently made an important promotion in the channel organization and he was reminded it has a channel.
Whatever the case, net income for the recently ended period hit $6.7 million, up from $1.5 million a year earlier. The fourth quarter revenue story doesn't sound quite so good at $111.9 million, down from $121.9 million. But Klaus and CFO Michael Pietrini were ecstatic because software license revenue was 50 percent higher than in the third quarter and results exceeded the guidance the company had given Wall Street. Klaus said Epicor is gaining market share and will continue to take it because of sales of Epicor 9 hit the manufacturing and other verticals the company has previously targeted, while letting it win financials-only deals which it hasn’t been able to compete for in years. The next release would let the company go after project-oriented prospects. There are more than 500 Epicor 9 implementations underway and the company expects to double that in the first half. For 2009, Epicor still lost $1.2 million, down sharply from $3.5 million in red ink for 2008. Revenue for 2009 was $409.6 million, a 16-percent drop from $487.9 million the prior year.
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