"The vast majority of our on demand revenue is from net new customers," he said. The bottom line, however, didn't change much. Epicor lost $13.9 million in the most recently ended period, up from $13.6 million a year ago. Revenue rose to $245 million, up 7.2 percent from $228.5 million in last year's corresponding quarter. ERP had a solid performance, with $154.6 million in revenue, 10-percent higher than $140.2 million a year ago. Cowan apparently was reading from the "Book of Nelson" as he took swipes at unnamed competitors that pass off hosted systems as being true SaaS. [That's NetSuite CEO Zach Nelson]. He called Epicor the "only provider who can provided true multi-tenanted architecture, on-demand or on-premise" and a few other qualifiers that limit the purveyor of truth and just software to Epicor. Well, that's the way positioning the other guys is played. Cowan, whose pattern is staying at companies a couple of years before they are sold - sort of a cross between a caretaker and an undertaker - talked about growth and new opportunities But the CEO with the strong Texas accent apparently dislikes southern California and this week Epicor's headquarters was relocated from Dublin, Calif., to Austin, Texas.