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EPICOR’S ERP REVS UP 6.4 PERCENT
Epicor Software reported revenue rose to $133.4 million for the first quarter ended December 31 while its retail revenue dropped. That ERP figure was out of a total of $209.4 million, up from $89.8 million a year earlier. The basic financial reports are a tough read in the usual analytical terms since the year-ago comparison are for Epicor before it was melded with Activant under the Epicor name.
The company lost $17.4 million in the December quarter, compared to $3.5 million in net income a year earlier. Acquisition-related costs and restructuring costs totaled about $5.8 million. Revenue in the most recently ended period was $209.4 million, up from $89.8 million. The quarters themselves have changed as Epicor had been on a calendar year. However, Epicor’s conference call gave help in providing the year-ago comparison on a pro forma non-GAAP basis while its SEC filing gave them on a GAAP actual basis. According to CEO Pervez Qureshi, an over-all 9-percent rise in license revenue stemmed from increasing demand for add-ons and migrations. “Our customers are invested in additional modules, user seats and new site licenses,” he said in an earnings conference call this week. The same could not be said of the EMEA region which is weighed down by the European debt crisis with the installed base not increasing spending. ERP was helped by double-digit growth in professional service revenue and a 10.9 percent rise in license revenue. Retail license revenue was up 33 percent year over year. And while Qureshi said the segment has not completely recovered, based on the interest at January’s National Retail Federation show, “We may finally be starting to see the next wave of retail technology investment starting to break.” Retail benefited from some large customers who purchased end-to-end systems and from buying decisions that were delayed from the first quarter. The company’s online revenue continued to grow with the sale of Epicor Xpress manufacturing to 25 new customers. Although Epicor is no longer publicly owned, it continues to report results because of a publicly traded debt issue, which Epicor is offer to exchange for a private debt issue.
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