Columbus IT Pares Loss


Columbus IT, a Microsoft reseller with headquarters in Denmark, cut its losses for the first half ended June 30 to about $2.13 million, down more than 50 percent from $4.4 million in red ink in the first half of 2003.Meanwhile, worldwide revenue rose to roughly $49.7 million, up from $44.1 million in last year's corresponding period. The company says that 74 percent of its revenue came from sales of Axapta and 8 percent from Navision. That was up from 73 percent and 5 percent respectively a year earlier. Operations in the U.S. are included in a Rest-of-the-World category that excludes Europe. That category had EBITDA of roughly $833,000, down $166,000 from last year. Revenue of $5.8 million was about $500,000 higher.

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