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PRODWARE NET OFF SHARPLY Featured

ProdwareThe Prodware Group saw net income for 2018 drop by 21.2 percent from results for 2017. The France-based Dynamics and Sage reseller reported profit of about $10.3 million for the year ended December 31.

Prodware released revenue for the year in February—the separate reporting is normal practice. Prodware reported revenue of about $200 million last year, a rise of 4.9 percent from 2017. It had a 12.6-percent increase for the fourth quarter. The bottom line benefited from last year's disposal of non-core businesses, which the company said saved it about $2.8 million in expenses associated with that operation. Around $3 million was deducted for the reversal of 2017 litigation provisions. Roughly $3.8 million was lost to charges related to the August refinancing of Prodware's mid- and long-term debt.

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