Accounting News


MBS HITS $1 BILLION Microsoft says revenue for Microsoft Business Solutions topped $1 billion for the year ended June 30, the first time the accounting and CRM software unit has passed that threshold.

The event was reported by SVP Jeff Raikes at an annual analysts' day and is one of the few details that Microsoft has released on sales since nearly a year ago, when MBS was absorbed into the larger Microsoft Business Division, which Raikes heads. The company said that revenue was up by 21 percent for the year with sales of Dynamics CRM up 50 percent in the fourth quarter.


Partner Insights

Intuit will sell Eclipse, the distribution software package it bought four years ago, as the company continues unloading vertical market products that it acquired in the early part of the decade.

Intuit will sell the Eclipse business, which it purchased for $85 million, to Lawrence, Calif.-based Activant Solutions for $100 million. The company previously sold its FundWare nonprofit accounting to Kintera and the MasterBuilder construction line to Sage Software. The remaining vertical product is the MRI property management software line.


Epicor's net income dropped to $6.3 million from $7.1 million for the second quarter ended June 30, as revenue rose to $105.7 million, up 6 percent from $99.5 million last year.

The company said its mid-May acquisition of the Epicor business of Australian reseller Professional Advantage added $1.3 million in revenue. A rise in operating expenses contributed to the bottom line dip as expenses hit $42.8 million, up 11.8 percent from $38.3 million a year earlier.


Nonprofit vendor Blackbaud reported an 8 percent rise in net income for the second quarter ended June 30, while revenue increased by 32 percent over last year's corresponding period.

Net income hit $8.2 million in the most recently ended quarter, up from $7.6 million a year earlier. Revenue totaled $64 million, up from $48.6 million a year ago. Income from subscriptions boomed, hitting $5.5 million, up 125 percent, while services revenue rose 42 percent to $22.2 million and license revenue increased 19 percent to $11 million in the most recently ended period.


Sage Software has appointed Lisa Codispoti as chief people officer to handle human resource functions in North America.

Codispoti is responsible for human resources for the company, which employs more than 5,000 people. She was previously EVP and chief human resources officer for Outsourcing Solutions.


A low-priced version of the Dynamics NAV application called Dynamics Entrepreneur, being rolled out this year in four European countries, could be brought to the United States to battle Intuit's QuickBooks Enterprise Solutions.

Klaus Holse Andersen, MBS sales and operations vice president, said the product is being sold through overseas distributors and will be handled the same way if brought to the United States. Microsoft does not use distributors for its accounting software in the U.S. The product is priced at about $1,100.


Two senior Blackbaud executives have left the Charleston, S.C.-based nonprofit accounting and fundraising software vendor.

SVP Christopher R. Todd and marketing SVP Richard S. Braddock Jr. left to pursue other opportunities, according to the company. Dennis D. Maxwell, a marketing VP who joined the company last year, takes over Braddock's job while two sales vice presidents will report to CEO Marc E. Chardon.


A sharp increase in expenses, including a growing work force, pushed Serenic's loss for its first quarter ended May 31 436 percent higher than its loss in last year's corresponding period.

The Edmonton, Alberta-based nonprofit software vendor lost about $280,000 in the most recently ended period, compared to about $52,000 in red ink a year ago. Revenue rose to roughly $1.73 million, an increase of 15.3 percent over $1.5 million a year earlier. The company said hiring added about $181,000 to personnel expenses, a 20.4 percent increase.

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