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EXACT SAYS AMERICAS REVS STABILIZE

Exact has released an interim management statement—meaning there aren’t a lot of details—that says revenue for the Netherlands and the Americas stabilized for the first quarter of 2010. Stabilized was explained as meaning organic revenue was “almost flat” for the Americas and the Netherlands although the direction of the almost was not given. However, total company revenue of $66.3 million was down by 7.1 percent from a year earlier.
Maintenance revenue showed a slight improvement in all regions, despite the decline in new license sales. However, that trend in license sales left service revenue “relatively soft.”  Exact said cost-saving measures taken last year through the first quarter compensated for the revenue decline. That meant EBITDA rose to about $14 million, up 1.2 percent from a year earlier. Exact and some other European companies, such as Sage, report half-year and full-year results, but do not issue detailed financials for the quarters and rely instead on the summarized interim statements.
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