ERP revenue slipped to $150 million, down 2.8 percent from $154.6 million a year earlier. Revenue from software and software related services-the major component of ERP—dropped to $107.8 million—down from $110,9 million. Epicor blamed the lower level of large transactions in the quarter, primarily in the Americas. In the fall of 2013, the company brought on Joseph Cowan as CEO. Cowan said the company would move in a new direction, which so far has not been as good as the old direction. One problem seems to be Epicor 10 has not been the hit Epicor 9 was. The older version put Epicor on the map as a competitor. Epicor 10 seems to be removing it. Cowan's resume is largely one of spending two years at companies and then selling them and everything believes Epicor is for sale. Interest expense from the debt used by Apax Partners to buy the company continues as a drag on results. That category totaled $21.3 million for the quarter just ended, compared to $22.8 million a year earlier.