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COLUMBUS U.S. REVS SHRINK AGAIN Featured

Columbus’ best moneymaker for the first quarter ended March 31 was selling off pieces of the company.  Meanwhile, operations in the United States continued to look like, “Honey, I shrunk the company.”

U.S. sales, falling for more than two years, dropped another 16.7 percent to about $9.7 million for the most recently ended period. The company’s bottom line benefitted from income from discontinued operations of approximately $118.5 million leading to net income of about $125.9 million for the most recently ended period, up so much it’s hardly worth calculating. One bad sign for the company—for the second quarter in a row there were no questions from financial analytics during this week’s earnings webcast. Revenue for the most recently ended quarter was roughly $69.2 million, down 7.5 percent from last year’s corresponding period. The changes in revenue included the sale of its software arm, To-Incresse, and the companies in Estonia and Lithuania. Acting CFO Hans Henrik Thrane said during the webcast the company had reduced staff during the height of the pandemic.  However, he noted, “During Q4, we began to see the market picking up, and therefore we started onboarding people which is expected to continue throughout 2021. In Q1 2021.”  He said results reflected a lower number of consultants, "especially in the cloud business." The executive also referred to the overall revenue fall  as reflecting "a larger decline from SMB customers in the U.S. business" than expected. Columbus has reorganized into global business lines and local market units. Thrane said in support of “this new operating model, we are implementing a new global business platform to support collaboration and system support across Business Lines and Market Units.” 

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