Epicor experiences growth in Q2 of 2010

Epicor, a provider of enterprise software solutions, recently reported their financial results for its second quarter.

President and CEO of Epicor, George Klaus commented about the 2010 second quarter financial results. He said, “The 2010 second quarter was another solid quarter for Epicor with all revenue lines and non-GAAP net income growing over the 2009 second quarter. The momentum we are seeing behind Epicor 9 continues and helped drive software license revenue growth of more than 9% over the second quarter of 2009 and free cash flow of $11.2 million. Our consulting arm is doing an excellent job with implementations and we now have more than 200 customers running their businesses on Epicor 9, with more than 140 others scheduled to go live throughout the balance of the year. Epicor’s software solutions are making a difference for our customers as evidenced by strong maintenance retention rates, which were 94% for the fourth quarter in a row. We continue to strengthen our competitive position, which we believe is enabling us to take market share throughout the world, and our continued investment in Epicor 9 is paying dividends in sales momentum and customer satisfaction.”

Second quarter revenue for Epicor went up to $109.2 million, which was a 9% increase compare to last years second quarter revenue of $100.4 million. The GAAP net loss for 2010’s second quarter was $1.0 million or $0.02 per share, and the previous years net loss was $6.7 million or $0.11 per share.

However, the Non-GAAP net income for Epicor in this year’s second quarter went up by 14% to $7.7 million or $0.13 per share, and in the previous year’s second quarter, the non-GAAP net income was $6.7 million or a $0.11 per share.

The 2010 second quarter revenue by each segment for Epicor was $19.2 million for license revenue, maintenance revenue wen t up to $47.5 million, consulting revenue went up to $34.3 million, and hardware and other activity revenue grew to $8.2 million.

Tags: , ,

Leave a Reply

If you want a picture to show with your comment, go get a Gravatar.