News and Analysis

News and Analysis (15670)

QLIK TECH LOSS ALMOST DOUBLES

Tim MacCarrick, Qlik TechnologyQlik Technology, which makes the Qlik View analytic line, turned in a loss for the first quarter ended March 31 that was nearly double the year ago figures as revenue rose by 15.1 percent. The most notable thing in last month's earnings calls was not the numbers but the views expressed by some analysts. One told CFO Tim MacCarrick that there is concern in the investment community "around your ability to make sure you hit the numbers" and asked if there was "Anything more you can say that would give the investment community comfort in your forecasts?"

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BLACKBAUD OUTLINES INVESTMENTS

Mike Gianoni, BlackbaudBlackbaud had good results for the first quarter ended March 31. But the discussion on this week's earnings webcast was as much about the investments being in the company as it was about past performance. "We had a solid first quarter," noted CEO Mike Gianoni. Net income for the nonprofit software company rose to $3.8 million in the most recently ended period, up 43 percent from $2.7 million a year ago.

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MANUFACTURING LIFTS EDGEWATER'S Q1

Shirley Singleton, Edgewater TechnologyEdgewater Technology, which owns Dynamics reseller Fullscope, rebounded to a profit of $711,000 for the first quarter ended March 31, compared to a loss of $889,000 a year ago. In this week's earnings webcast, CEO Shirley Singleton said the company's bet on "manufacturing coming back to the United States" was one of the factors behind a strong performance. Revenue for the most recently ended period was $27.6 million, up 18 percent, from $23.5 million in last year's corresponding period.

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SUGAR HIRES CHIEF PRODUCT OFFICER

William Hunt, SugarCRM SugarCRM has hired William Hunt as its new chief product officer. Hunt will oversee SugarCRM's product management, development, quality assurance, operations and the professional services organizations from the company's headquarters in Cupertino, Calif. Prior to joining the open source software company, Hunt was co-founder and chief technology officer of OptTown, which makes self-provisioning CRM for small and medium-sized businesses.

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BLACKBAUD BACK IN RESELLING BIZ

Chris Clinton, Blackbaud Blackbaud hasn't been in the midmarket financial space since it canned its Financial Edge channel in 2005, although it has had a small channel remaining for its FundWare nonprofit accounting program. However, the Charleston, S.C.-based nonprofit vendor is back officially this month with the revamped Blackbaud Partner Network. Blackbaud actually had as many as 30 partner categories from its acquisitions. But there was no clear plan, according to Chris Clinton, VP of global channels and the partner ecosystem.

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AVALARA BUYS ZYTAX APPLICATIONS

AvalaraAvalara has acquired the Zytax line of energy-related tax applications for the United States and international jurisdictions. Terms were not disclosed. The Bainbridge Island, Wash.-based sales tax vendor purchased the product line from FuelQuest, which makes cloud-based software and services for what are termed global downstream energy companies. There are three Zytax SaaS products that cover the fuel excise tax arena.

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NETSUITE EXECS CLEANED UP IN 2103

James McGeever, NetSuite Hefty stock and option awards more than doubled the compensation for three top NetSuite executives in 2013. That included CEO Zach Nelson whose $12.8 million in compensation last year compared to $5.8 million for 2012. The overwhelming part of the increase came from $9.8 million in stock awards up from $4.3 million in 2012. Nelson also received $1.6 million in option awards, up from almost $680,000 in the same category. The same kind of boost was given to CFO James McGeever, whose haul last year was $8.7 million, up from $3.7 million.

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NETSUITE REVS RISE 34 PERCENT

Zach Nelson, NetSuiteIt's practically a formula—NetSuite's GAAP loss rose and the cloud software company showed strong revenue growth. That was the story as the company this week released results for its first quarter ended March 31. The loss rose to $22.2 million, up from just over $13 million in last year's corresponding period. Revenue reached $123 million in the most recently completed period, a rise of 34 percent from $91.6 million a year earlier. Non-GAAP income rose to $4.4 million, up 58 percent over $2.8 million a year ago.

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EPICOR INTRODUCES VERSION 10

Erik Johnson, Epicor Software Epicor Software has unveiled Epicor ERP version 10 at its annual customer conference. The product is already available and the company this week gave a description of the features, along with the names of nine companies already live with the product. Epicor 10 gives users the choice of on-premise, cloud or managed service deployment and comes with a touch-enabled interface.

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INFOR SLICES MAINTENANCE MARGINS

 Jeff Abbott, InforInfor will cut margins for maintenance and support, amid what appears to be broad new approach that will have a severe impact on its channel. The change is effective June 1. There are reports that maintenance and support margins, are being cut 50 percent and that the channel was blindsided by a move that will have a severe impact. Also making the rounds is the belief that Infor is going to stretch out payments to its channel.

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