Despite the dip, sales for the nine months were up 1.9 percent to about $143.5 million. The firm’s comments about factors behind the drop were limited but it noted, “the transition of sales to SaaS, which has a direct impact on the volume of activity but does ensure recurring revenue …” SaaS revenue rose about 19.4 percent over last year’s corresponding period to approximately $23.6 million. It did not break out the category for the third quarter. ProdWare spotlighted results for France and Germany, which reached about $78 million for the nine months, an increase of 20.8 percent. The company goes not report net income during its initial release of financial results. It released revenue for the first half on July 17 but reported net income on October 18. First-half revenue was about $102.6 million, which was adjusted from the originally reported total. Net income for the period was roughly $8.7 million, up 8.5 percent over the total for the first half of 2017.Last modified on Friday, 16 November 2018
PRODWARE 3Q REVS DROP Featured
Revenue for France-based Sage and Dynamics reseller Prodware fell 1.7 percent for the third-quarter ended September 30. The company this month reported revenue of roughly $37.7 million.
Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.