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EPICOR LICENSE REVS DROP
Epicor Software felt the impact of transition issues as software license sales fell by 14.2 percent with an overall revenue gain of 1.2 percent on a pro forma basis for the first quarter ended March 31. The company, reflecting the combined results of the former Activant Solutions and Epicor under the latter's name, reported a loss $9.5 million on revenue of $204.3 million.
CEO Pervez Qureshi said that the impact of the European economy was combined with some internal issues, particularly that during the transition to the combined company a year ago, Epicor was moving its lead generation staff to a part-time role and moving personnel into other positions. "This group is getting back to planned staff levels," he said. ERP license revenue dropped 12.3 percent to $27.3 percent. That drop also reflected longer sales cycles. Americas revenue rose 1.8 percent to just over $179 million. The company has now shipped 3,000 units of Epicor 9, half of those to new customers. Part of a slippage in sales results from customers asking for more meetings to get explanations of the plans for the company's products in its new phase. Pro forma numbers were given in a earnings phone call. SEC numbers show historical results with Activant given as the predecessor company for year-earlier results.
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