FCSI: DELAY VISTA Financial Computer Support Inc., which markets the dbCams+ line, recommends users delay adopting the Microsoft Vista operating system and notes its products do not run on Vista.
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In a June newsletter, the Oakland, Md.-based company urged customers to purchase computers equipped with Windows XP and to upgrade to Vista later. The company said an upcoming release would include the ability to install its Plus products on Vista systems.
MORNINGSTAR NET UP
Morningstar reported net income of $18.3 million for the second quarter ended June 30, a 63.4 percent increase over $11.2 million a year earlier on a 44 percent rise in revenue.
Revenue hit $109.7 million, up from $76.3 million in last year's corresponding period. The advisor segment saw revenue hit $30.2 million, up 24 percent from $24.3 million a year earlier. Operating income hit $8 million, an increase of 26 percent from $6.4 million.
MONEYTREE GOES ONLINE
Financial planning software company MoneyTree, based in Corvallis, Ore., is offering Silver Online, a browser-based financial planning application that has the same features as the Windows-based Silver Financial Planner.
Silver Online enables advisors to offer a customer access portal to enable clients to view information and reports. The system is available for $495 per year.
CCH PICKS MCGOVERN
Gene McGovern has joined CCH as vice president of tax and accounting publishing, replacing Catherine Wolfe, who was named CEO of Wolters Kluwer U.K. earlier this year.
McGovern, who will report to CCH president Mike Sabbatis, was most recently CEO of Marquis Who's Who and previously was SVP of operations and editorial for LexisNexis's North American Legal Departments Division.
ACQUISITIONS BOOST WK
Wolters Kluwer saw EBITA for its Tax, Accounting & Legal division jump by 44.7 percent on a 13.9 percent revenue rise as acquisitions boosted results for the second quarter ended June 30.
TAL, which includes the company's CCH operations, reported $55 million in EBITA, up from $38 million a year earlier. Revenue rose to $270 million, up from $237 million. Organic revenue growth of 5 percent stemmed from increased sales of the ProSystem fx software. Worldwide revenue was about $1.142 billion, up from about $1.138 billion. Total EBITA was about $201 million, up from $172 million a year earlier.
Thomson Tax & Accounting has launched ePropertyTax version 8.0, which it terms a major upgrade to its Web-based property tax software system.
The applications is used by commercial property tax preparers who process their own taxes in-house. Version 8.0 offers an expansion of a mass editing tool and customizable queries.
ADVENT REPORTS STRONG Q2
Advent Software reported net income of $5.1 million for the second quarter ended June 30, up from $1.6 million a year earlier, as revenue rose by 18 percent.
Revenue reached $52.4 million, up from $44.4 million in last year's corresponding period. The earnings increase was driven by $3.9 million in interest and other income, primarily from the gain on the sale of two equity investments. During the quarter, the company completed a stock repurchase program, buying 1.7 million shares for a total of $61 million.
ORRTAX OFFERS PAYDAY LOANS
Payday loans will be available to tax preparers using the Orrtax Software tax applications through the company's new relationship with TranDotCom Solutions.
The agreement gives Orrtax customers access to XpressCash, an automated system that enables preparers to offer short-term lending to their customers. Xpress Cash offers instant underwriting, integrations with third-party sub-prime credit bureaus and ACH.
SUREPAYROLL PITCHES 401(K)S
SurePayroll, an online payroll provider based in Glenview, Ill., is offering Sure401k, an online 401(k) program, to small business employers.
Available for less than $85 a month, including a one-time setup fee, the program has no minimum employee restrictions. Businesses run exclusively by owners, partners and spouses can implement an owner-only 401(k) or Solo (k) plan for $12.50 per month. Information is available at www.surepayroll.com/product/401k.