News and Analysis

News and Analysis (15670)

SAGE 3Q NORTH AMERICAN BIZ GOOD

SageSage says its North American business was good during the third quarter. The information was made available recently in an interim management statement which covered April 1 through July 23. In some European countries, companies issue these statements, which provide meager information, for the first and third quarters.

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BLACKBAUD BEATS ITS GUIDANCE

Marc Chardon, BlackbaudBlackbaud turned in a strong performance for the second quarter ended June 30 as revenue grew by 13.9 percent and the company bounced back from a year-earlier loss. The Charleston, S.C.-based nonprofit software vendor had net income of $6.6 million, compared to a loss of $2.3 million in last year's corresponding period. The results exceeded the company's guidance. "We exceeded high end of our guidance in both the top and bottom lines," CEO Marc Chardon said in an earnings webcast. The company got more CRM customers in the enterprise space brought a record number live during the most recently ended period. He also pleased with the rapid growth of subscription revenue, with those deals outnumbering license sales five to one. Part of the improvement stemmed from digesting last year's purchase of Convio. However, Chardon noted he expects the trend of modest growth in charitable giving would continue. "We are not anticipating a material change one way or another in the near term," he said. Executives did not discuss specific future products, but said investment in the cloud will increase. "You won't see R&D going down," said Chardon, adding that there would be some SaaS investments "That might move it gently in the other direction." The company also plans to hire more aggressively in the second half.

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INFOR TO HIKE R&D SPENDING

Charles Phillips, InforInfor executives ended fiscal 2013 very happy with their new product direction and promising to spend more on their software lines. That comment should address concerns I've heard that Infor is just mining the companies it bought. Still the company has a lot of work to do as interest expense remains a drag on earnings, although it has been refinancing and cutting that cost.

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SERENIC SLUMPS IN Q1

Serenic logoSerenic's loss grew by 76.4 percent on an 11.7-percent slide in revenue for the first quarter ended May 31. The Canada-based company said as a result it had re-organized its marketing department, hiked fees for support for customers who purchase its products directly and hired a new product manager for its human capital management products.

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NO ISSUE, AUGUST 2

Bob ScottBob Scott's Insights is published 48 times a year. Friday, August 2, is not one of those days. The wife and I will be in Alaska, somewhere down near Seward as the trip winds up next Friday. So unless there's really good Wi-Fi in Denali, the Kenai Peninsula and points in between, it is very unlikely that emails will be answered. The regular schedule will resume on August 9 as we head into a new round of conferences in August and September, including Acumatica, the Midwest Accounting Show, an Intuit get together and AccountMate roundtables.

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THE USUAL: NETSUITE REVS, LOSS UP

Zach Nelson, NetSuiteThe standard NetSuite financial report was issued for the second quarter ended June 30. The net loss was $20.4 million, more than double the $9.9 red ink in last year's corresponding period. Revenue reached $101 million, up 35 percent from $74.7 million a year ago. However, like the first quarter and unlike what has happened for a couple of years, non-GAAP earnings fell, instead of rising.

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INTUIT EXECS GET BONUSES

 Brad Smith, IntuitIntuit's top executives have been given executives, something that most have not seen in three years. Both CEO Brad Smith and CFO Neil Williams received bonuses for the year ended July 30. Neither received bonuses in fiscal 2011 or 2012. Smith got a bonus of $1.12 million while his base salary moved to $1 million for the current fiscal year.

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ACCOUNTING FIRMS SCORE WITH INTACCT

Rick Sommer, Intellitec SolutionsAccounting firms in the channel fared well with this year's selection of the Intacct's Presidents' Club. Three of the eight firms selected were accounting firms including Armanino, CliftonLarsonAllen and LBMC Technologies. For Armanino, it was another award in what looks like a very good year. Earlier this month, the San Ramon, Calif.-based firm was named to the Microsoft Dynamics Inner Circle, the only U.S. accounting firm to make that group.

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INFOR SHOW SHUTS OUT PRESS

Infor logoInfor has kicked off its annual partner summit in San Diego. But I'm sitting here in New Jersey writing about it. Because after an unexpected invitation to last year's show, this year's is a media blackout. (Not that I could have made it since we're heading for Alaska tomorrow.) In fact, Infor did not respond to questions about whether there was a show and official notification only arrived yesterday.

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EPICOR HIRES FORMER DELL EXEC

Donna Troy, EpicorEpicor has named former Dell executive Donna Troy as EVP vice president and general manager for ERP in the Americas. She was most recently Dell's VP and GM enterprise solutions, public large enterprise worldwide from February 2011 through 2012. She had been with the troubled hardware company in VP jobs since January 2008. Before that, she was EVP of Global SME Indirect Channels at SAP from July 2004 through April 2007 and served as SVP of global SMB for that company from July 2004 through April 2007. She spent 23 years at IBM from 1978 through 2001 and held a VP title.

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