Reckon's earnings declined to about $8.2 million, down 14.2 percent from 2014. Revenue rose 4.3 percent to about $75.1 million for the recently ended year. Besides reporting last year's results, Reckon discussed some fairly significant plans for 2016. In January, Reckon acquired SmartVault, a United States-based document management system. The company had introduced its Virtual Cabinet in this country last year. Now, it says it intends to expand both packages and to bring SmartVault to market in Australia and the United Kingdom. It also said Reckon One would be introduced into the U.K., which means that previous statement that Reckon One was going into that country in 2015 did not come about. Reckon also wants to use SmartVault to access the accountant market in the U.S. It noted that the acquired company added 12,000 seats in 2015, an increase of 48 percent over 2014.
RECKON EYES GLOBAL GROWTH Featured
Reckon, which markets online accounting applications, is targeting international growth in three product line segments. The Australian company, which sells the Reckon One accounting package, is expanding in English-speaking companies with its accounting, practice management and document management products. The software publisher described those goals in its investor presentation that accompanied its release of financial results.
