On October 23, Epicor Software Corporation (NASDAQ: EPIC), one of leading providers of integrated enterprise, e-Business and collaborative commerce software solutions solely for the mid-market, announced its financial results for the third quarter ended September 30, 2002. Total revenues for the quarter were $34.0 million, a 14% drop compared to $39.4 million for Q3 2001, while software license revenue totaled $6.8 million, a sizable 23% drop compared to $8.8 million a year ago (see Figure 1). However, net loss for the quarter, which includes $1.8 million in amortization of capitalized software development costs and acquired intangible assets, was $1.4 million, which is less than a third of a net loss in Q3 2001 of $4.5 million which included $1.5 million for the gain on the sale of a product line and $2.2 million in amortization of capitalized software development costs and acquired intangible assets.
A week earlier, on October 17, Epicor signed a definitive agreement with Clarus Corporation (NASDAQ: CLRS), a provider of buy-side e-Business applications to the mid-market, to acquire substantially all of its core products, including procurement, sourcing, settlement and analytics written on Microsoft platforms, in an all-cash transaction for a purchase price of $1 million. The transaction is expected to close in Q4 2002, subject to Clarus shareholder approval. Epicor will provide service and support to the majority of Clarus' installed base of procurement customers, and it has been engaged in reselling Clarus' procurement product for more than two years. Epicor believes the acquisition should enable it to leverage its experience in procurement and sourcing, its integration expertise, as well as its .NET architecture to deliver an expanded suite of supplier relationship management (SRM) capabilities as part of its enterprise suite offering or as stand-alone offering.
During the quarter, in September, the company shipped the market's first CRM.NET product and has been successful with a number of early adopters as well as new customers, including its first customer, The Boeing Company. Unveiled earlier this year (see Epicor Claims The Forefront Of CRM.NET-ification) Clientele Customer Support 8.0 is the first application in the Clientele CRM.NET Suite available to customers. The company is scheduled to release a number of new products on the .NET platform over the next several quarters, including CRM.NET Portal and its enterprise services solution on the .NET platform for project-driven organizations. Clientele Customer Support 8.0 is available immediately in North America, the UK and Australia, as well as select countries in the Asia Pacific region. Existing customers on maintenance will receive the upgrade software at no charge. Standard List Pricing starts at $1500 per user with quantity discounts available.
Despite the challenging environment for attracting new account sales, Epicor reportedly added over 110 new customers in the quarter and has added over 350 new customers year-to-date. It has also launched a number of new business development initiatives to further relationships with vertically focused value-added resellers (VARs) and to expand its international reseller distribution, and its lead generation programs will focus on specific targeted verticals and specific customer size and will continue to leverage co-marketing efforts with partners and industry trade groups. Epicor reportedly continues to invest in its sales, service and support organizations which have undergone significant training on a series of new products as well as value vision methodology training to improve its success in the current economic environment.
A week earlier, on October 17, Epicor signed a definitive agreement with Clarus Corporation (NASDAQ: CLRS), a provider of buy-side e-Business applications to the mid-market, to acquire substantially all of its core products, including procurement, sourcing, settlement and analytics written on Microsoft platforms, in an all-cash transaction for a purchase price of $1 million. The transaction is expected to close in Q4 2002, subject to Clarus shareholder approval. Epicor will provide service and support to the majority of Clarus' installed base of procurement customers, and it has been engaged in reselling Clarus' procurement product for more than two years. Epicor believes the acquisition should enable it to leverage its experience in procurement and sourcing, its integration expertise, as well as its .NET architecture to deliver an expanded suite of supplier relationship management (SRM) capabilities as part of its enterprise suite offering or as stand-alone offering.
During the quarter, in September, the company shipped the market's first CRM.NET product and has been successful with a number of early adopters as well as new customers, including its first customer, The Boeing Company. Unveiled earlier this year (see Epicor Claims The Forefront Of CRM.NET-ification) Clientele Customer Support 8.0 is the first application in the Clientele CRM.NET Suite available to customers. The company is scheduled to release a number of new products on the .NET platform over the next several quarters, including CRM.NET Portal and its enterprise services solution on the .NET platform for project-driven organizations. Clientele Customer Support 8.0 is available immediately in North America, the UK and Australia, as well as select countries in the Asia Pacific region. Existing customers on maintenance will receive the upgrade software at no charge. Standard List Pricing starts at $1500 per user with quantity discounts available.
Despite the challenging environment for attracting new account sales, Epicor reportedly added over 110 new customers in the quarter and has added over 350 new customers year-to-date. It has also launched a number of new business development initiatives to further relationships with vertically focused value-added resellers (VARs) and to expand its international reseller distribution, and its lead generation programs will focus on specific targeted verticals and specific customer size and will continue to leverage co-marketing efforts with partners and industry trade groups. Epicor reportedly continues to invest in its sales, service and support organizations which have undergone significant training on a series of new products as well as value vision methodology training to improve its success in the current economic environment.
No comments:
Post a Comment