CDC SOFTWARE NET DROPS

Newly public CDC Software reported just under $4 million in net income for its second quarter ended June 30, down from $5.9 million a year earlier as revenue was nearly unchanged. The Atlanta-based company held its IPO this month with its former parent, CDC Corp., based in Hong Kong, owning about 83 percent of its stock. CDC Software markets the Ross financial and Pivotal CRM applications. Revenue for the most recent period was $50.35 million, down from $60.61 million a year earlier. The company's guidance showed it expects 2009 revenue ranging from $197 million to $200 million and net income of $15 million to $18 million. CDC Software went public with the sale of 4.8 million American Depository Shares at $12 each.

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