Financial News

Print
Email
Reprints

MBS CUTS QUARTERLY LOSS Microsoft Business Solutions had $13 million in operating losses for the third quarter ended March 31, down sharply from a $39 million loss in last year's corresponding period.

The loss followed the company's first-ever operating profit in the second quarter. However, Doug Burgum, the group's president, had warned that because of investments in product marketing, the company might not have another quarterly profit in fiscal 2006. The unit reported $216 million in revenue, up 20.7 percent from $179 million a year earlier.

SAGE RESULTS RISE

Partner Insights

Sage Ltd. says that its financial results for the first half ended March 31 were in line with market expectations. The company did not provide results, which were to be made available on May 9.

However, it reported that average analyst forecasts were as follows: revenue, about $749.4 million; operating profit, $204.5 million; and pre-tax profit, $197.4 million Comparing those numbers to the actual results for the first half of fiscal 2005 in pounds shows that revenue is up about 16.4 percent; operating profit up 11.5 percent; and pre-tax profit up 10.3 percent.

EPICOR EARNINGS DIP

Epicor saw its net income drop to $4.6 million for the first quarter ended March 31, down 20.5 percent from $5.7 million in last year's corresponding period.

Although the company's operating income rose to $8.9 million, up from $6.6 million, a $2.7 million provision for income taxes pushed the bottom line down. Revenue rose to $39.9 million, up 26.5 percent from $66.8 million a year earlier.

COREL GOES PUBLIC

Corel, the Canadian company that owns WordPerfect, the once-dominant word processing package, has again become a public company, with a public offering that produced about $69 million.

Combined with $90 million in borrowing, the proceeds will be used largely to repay $140.1 million in debt incurred in its purchase of WinZip. Sales for the year ended November 30 were $164 million, up from $111.7 million in fiscal 2004. The company lost $8.8 million, a swing from $1.2 million in earnings the prior year, spurred by $12.6 million in interest expense.

PERVASIVE RESULTS FALL

Pervasive Software, which markets data infrastructure software that includes database engines used in some major accounting software products, reported an 80 percent fall in net income on a 10 percent revenue for the third quarter ended March 31.

Net income fell to $354,000 for the most recently ended period, from $2.1 million a year earlier. Third-quarter revenue of $11.4 million compared to $12.4 million in last year's corresponding period. The bottom line was cut by a $771,000 management restructuring charge.

ADVENT INCOME DOWN

Net income dropped 5.6 percent for Advent Software for its first quarter ended March 31, as revenue for the period rose 11 percent.

Earnings for the most recently ended period were $3.4 million for the San Francisco-based financial software company, compared to $3.6 million in last year's corresponding period. Revenue rose to $43.7 million, up from $39.4 million a year earlier.

RADIANT EARNINGS RETREAT

Radiant Systems, which publishes software for the retail market, reported that earnings fell 41.7 percent on a 23.7 percent rise in revenue for the first quarter ended March 31.

Net income dropped to $683,000 in the period, down from $1.2 million a year earlier. Revenue was just over $49 million, compared to $37.3 million in last year's first quarter. The numbers included results from Synchronics, a POS vendor that was purchased on January 3.

MORNINGSTAR LISTS EXECS' PAY

Person and title 2005 Salary Bonus 2004 Salary Bonus

Joe Mansueto, chairman, CEO $100,000 --- $100,000 ---

Martha Dustin Boudos, CFO $200,000 $320,000 $200,000 250.000

Catherine Gillis Odelbo, president, individual business $200,000 $320,000 $190,000 $266,331

Tao Huang, COO $275,000 $442,760 $250,000 $387,276

Patrick Reinkemeyer, president, Morningstar Associates $225,000 $375,000 $165,625 $275,554

Morningstar rewarded its executives with sharp increases in bonuses, including a 30 percent increase for Patrick Reinkemeyer, president of Morningstar Associates. CEO Joe Mansueto does not take a bonus or participate in the company's long-time incentive plan. Source: Morningstar

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Register now for FREE site access and more