Accounting News


DELTEK EARNINGS DROP Deltek, which makes financial software for project-oriented businesses, reported net income fell to $4 million for the first quarter ended March 31, down 18 percent from $5.1 million a year earlier.

Revenue rose to $69.4 million, up 11 percent. But license revenue dropped 14 percent to $17 million. Consulting services revenue rose 31 percent to $24.3 million, while maintenance and support revenue rose 17 percent to $28.1 million. In an earnings Webcast, CEO Kevin Parker said sales cycles lengthened and there were delays in deals, although most are expected to close.


Partner Insights

Sage Software reported $550.7 million in revenue, for the first half ended March 31, unchanged from a year ago. EBITA dropped to $87.8 million, from $94.1 million.

Organic growth for North America was 8 percent, excluding the Healthcare Division. The Business Management Division had 3 percent organic growth, while the MAS and Peachtree lines were flat. Sage said Accpac and SalesLogix had good growth. The Industry and Specialized Solutions Division had 6 percent organic growth, helped along by Timberline.


Online software vendor Intacct has raised $15 million in a new venture financing round led by Bessemer Venture Partners. Existing investors Emergence Capital, Sigma Partners and Sutter Hill Ventures all participated in the round.

A year ago, Intacct raised $14 million. The company noted Bessemer and Bay Partners have a special fund to invest in companies, such as Intacct, that are committed to’s platform.


NetSuite’s loss dropped to $2 million for the first quarter ended March 31, down from $9.3 million in red ink a year earlier. Revenue reached $34.1 million, up 47 percent from $23.2 million a year earlier.

Zach Nelson, CEO of the Redwood City, Calif.-based online vendor, said international revenue rose 64 percent and now represents 19 percent of all sales.


Connie Certusi, who was made general manager of the MAS and Peachtree lines, has been transferred by Sage Software back to Peachtree, where she has worked many years.

Sage gave Certusi the broader assignment last year, but switched her back, with Nina Smith, president of Sage’s Business Management Division citing “significant improvements in processes and sharing of common initiatives.” Himanshu Palsule is serving as interim general manager for the MAS line.


Epicor reported a $7 million loss for the first quarter ended March 30, as the February acquisition of NSB Retail produced charges that dropped the software vendor out of the $4.4 million it earned in last year’s corresponding period.

The loss stemmed from $15.4 million in expenses such as the amortization of intangibles and in-process research and development charges. Meanwhile, revenue rose to $102.2 million, compared to $101.3 million a year earlier.


CDC Software, which markets Ross ERP, Pivotal and c360 CRM, recorded revenue of $349 million for 2007, up 45 percent from $240.8 million the prior year.

The results of the U.S. operation comprised the lion’s share of the revenue of parent CDC Corp., which reported total revenue of $404.2 million for the most recently ended year, compared to $309.5 million for 2006. The company lost $101.8 million in 2007, compared to net income of $10.8 million for 2006. Much of the loss stemmed from fourth-quarter charges in other subsidiaries.

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