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EPICOR DISMISSES 265

epicor logoNot surprisingly, the merger of Epicor and Activant claimed some jobs at the new company, which maintained the name Epicor Software. Besides saying goodbye to several Epicor executives  and replacing them with Activant talent, the new Epicor dismissed 265 employees and the company took about a $3.4 million restructuring charge between May 16 and June 30 and anticipates recording “significant restructuring charges within the next three to six months.” It also expects to close an unspecified facility and take a charge for that.

The Epicor results were actually issued under the name of Eagle Parent, the company that acquired the software companies and this would probably be the last public report since Epicor is now privately held. For the period from Oct. 4, 2010 to May 15, 2011, revenue was $227.3 million. That included $126.6 million from the retail segment and $100.7 million from the ERP segment. No year-ago comparable numbers were issued. Both companies had retail operations and the results of Activant’s wholesale distribution group were placed in the ERP segment. The profit contribution margin for retail was 31 percent while ERP produced just under a 44-percent margin. On a pro forma basis, the new Epicor had revenue of $198.3 million for the third quarter ended June 30, down from $199.4 million the prior year. It lost $67.4 million in the mostly recently period, sharper larger than the year ago loss of $8.7 million. Most of the loss stemmed from interest expense of $67.4 million, up from similar expenses of $36.5 million.
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