Accounting News


SAGE PRE-TAX UP Pre-tax profits for Sage Ltd., the parent to Sage Software, were $198.4 million for the first half ended March 31, up 19 percent, as revenue rose 18 percent to $795.5 million.

Sage Software itself reported that its EBITA margin rose to 25 percent for the most recent half, compared to 24 percent in the prior year's first half. Sage Software had revenue of $297.2 million, up 6 percent from a year earlier. The company said its small business division had a 7 percent rise in organic revenue, while the mid-market division saw a 2 percent increase in organic revenue for the same period.


Partner Insights

Microsoft is increasingly the efforts behind its struggling Small Business Accounting application with the announcement of SBA 2007 and the addition of a certification program.

Under the certification program, members of the Microsoft Professional Accountants Network can receive priority listing on the new Office Small Business Accounting 2007 Accountant Finder tool. To qualify, members must take the Network Consultant Exam.


Epicor has agreed to extend the contract of its chairman and CEO George Klaus until Dec. 31, 2007.

Klaus will receive a base salary of $736,403, unchanged from 2005. He is eligible for an annual cash bonus, and received a bonus of $681,173 dollars last year. He was also given options on 400,000 restricted shares of company stock.


Kintera, which makes software for nonprofit organizations, reported a loss of $9.3 million for the third quarter ended March 31, down from $11.7 million in red ink a year earlier.

Revenue for to $10.7 million, up from $9.3 million in last year's corresponding period. While Kintera slashed sales and marketing, and product development and support expenses a rise in general and administrative costs and in expense for the amortization of purchased intangibles countered the savings.


Jim Kent, a former top Macola reseller, was paid $500,000 in salary and bonus as president of Exact Software North America, according to Exact's annual report.

Kent received a salary of $350,000 and a bonus of $150,000 for 2005, making him the most highly paid executive in the company. Kent has been given a 43.6 percent increase in salary and an 8.2 percent rise in his bonus for 2006.


Intuit is on a pace to sell 12,000 units of QuickBooks Enterprise Solutions, its mid-market accounting software package, as it reported the third consecutive quarter in which it sold 3,000 units.

The company sold 5,000 units in fiscal 2004 and 10,000 in fiscal 2005. At the current pace, it will sell at least 12,000 units of QBES for the year ending July 31.


Sage Software, which says its construction resellers have been losing deals to MasterBuilder, acquired the construction package from Intuit and will combined it with its Beaverton, Ore.-based Timberline operations.

The companies did not reveal the purchase price or revenue for MasterBuilder. However, Intuit says the application was generating revenue of about $5 million per quarter. Intuit acquired MasterBuilder with the purchase of the former OmWare in May 2002 for $46.1 million. Sage Software CEO Ron Verni, said, that the deal fills a gap in Sage's construction line between Timberline and the construction version of its Peachtree package.


Blackbaud, the Charleston, S.C.-based manufacturer of nonprofit accounting software, saw net income drop to $5.7 million for the first quarter ended March 31, off 47.8 percent from $10.9 million a year earlier.

That decline came as revenue rose to $42.7 million, up 16.9 percent from $37.4 million in last year's corresponding period. The fall stemmed primarily from accounting for stock-based compensation, including the initial adoption of FAS123(R).


Cyma Systems, a Tempe, Ariz.-based marketer of accounting software, has named Sheila Merryman as its vice president of operations, replacing its long-time VP Steve Brueckner, who resigned earlier this year.

Merryman, who has worked at Cyma for five years, was previously director of product development. Bruckner had been with Cyma for more than 25 years.

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