Accounting News


EXACT SOFTWARE FOR SALE? Exact Holdings, the Dutch parent of Exact Software, indicated a sale of the company is being considered.

Exact Software markets the Progression and Macola software lines. On Jan. 14, the parent company said it was in discussions about its options. The statement suggests a sale is possible, cautioning, “There is no certainty that discussions with such firms, or any other person, will lead to a transaction involving the Company’s outstanding shares.”


Partner Insights

In its first earnings call as a public company, NetSuite announced total revenue for 2007 was $108.5 million, a year-over-year increase of 62 percent.

Fourth-quarter revenue was $31.7 million, a 57 percent increase over the fourth quarter of 2006 and 13 percent higher than the third quarter of 2007. The company expects total revenue for 2008 to range from $153 million to $156 million.


Microsoft has launched Microsoft Dynamics CRM 4.0, the latest version of its customer relationship management package.

The company announced the product’s availability in eight languages, including English, Spanish, French and simplified Chinese. It can be used on-premise, as an Internet-based system or as a mixture of those services.


Ron Verni, who was ousted last year as CEO of Sage Software, has been named CEO of Wilsonville, Ore.-based Corrigo, which makes Internet-based mobile applications for the field service market.

While Sage Software had more than $1 billion in revenue for the year ended Sept. 30, published reports say Corrigo had nearly $12 million in revenue for 2006 and had expected 85 to 100 percent growth last year. It raised $10 million in funding last year, bringing its total to $43.5 million since its founding in 1994.


Serenic Corp. reported a loss of about $320,000 for the third quarter ended Nov. 30, down 63.7 percent from a year ago as the company held the line on expenses.

Revenue for the most recently ended quarter was about $1.86 million, up 2.6 percent from $1.81 million in last year’s corresponding period. The totals are based on translations from Canadian dollars. For the nine months, Serenic had income of roughly $403,000 compared to last year’s nine-month loss of $277,000 while revenue reached $7.78 million, an increase of 41.3 percent from $5.6 million.


Dawn Westerberg, who led marketing at MIP, has been named as vice president of partner development and advocacy.

Westerberg joined Sage in 1997 with its purchase of MIP, which marketed nonprofit accounting software. She was most recently senior director, partner management, and worked with resellers across all of Sage’s mid-market lines. Previously, she was VP of marketing for Sage MIP Fund Accounting.


CDC Software expects to report revenue ranging from $92 million to $95 million for the fourth quarter ended Dec. 31, up 35 percent to 39 percent from the $68.3 million recorded last year.

The Atlanta-based subsidiary of CDC Corp. also said it anticipates software license revenue to range from $17.5 million to $18.5 million, up 14 percent to 20 percent over last year’s $15.4 million.


Epicor’s earnings ended 2007 with strength as it reported net income of $22.5 million for the fourth quarter ended Dec. 31, more than three times the $6.7 million a year earlier.

Revenue for the most recently ended period was just under $120 million, up 14.7 percent from $104.4 million. For 2007, the company had revenue of $429.8 million, up 12 percent from $384.1 million for 2006.

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