CEO Shirley Singleton said the quarterly total represent a "high amount of Dynamics AX maintenance renewals and CRM." She also pointed to the volatility of the software market, but gave no further explanation. Service revenue was $28.6 million in the most recently ended period, an increase of 16 percent from $24.6 million. Singleton said the total was a record. Edgewater is also moving heavily in the cloud market. "We are seeing cloud opportunities all across our offerings," she said. Singleton said the cloud impacted technical road maps infrastructure, advisory services, deployment and hybrid applications.
EDGEWATER SERVICE UP; SOFTWARE DOWN Featured
The service business was the only driver for Edgewater Technology as net income jumped 166 percent while revenue increased by 12 percent for the second quarter ended June 30. Net income hit $494,000 in the most recently ended period, compared to $1.3 million a year ago. Revenue was $34 million, up from $30.5 million a year earlier. Software revenue was $3.6 million, a decline of 12.2 percent from $4.1 million in last year's corresponding period.
