Epicor Software Corp. (EPIC) filed Quarterly Report for the period ended 2009-09-30.
Epicor Software Corporation designs develops markets and supports enterprise software solutions for use by mid-sized companies as well as divisions and subsidiaries of larger corporations worldwide. The Company's products and services are designed to focus on customer satisfaction retention and referrals and are intended to facilitate enterprise-wide management of resources and information which allows mid-market companies to compete more effectively in an increasingly global economy. Epicor Software Corp. has a market cap of $458.5 million; its shares were traded at around $7.51 with a P/E ratio of 15.7 and P/S ratio of 0.9. Epicor Software Corp. had an annual average earning growth of 34.4% over the past 5 years.
Highlight of Business Operations:
Epicor Software Corporation (Epicor or the Company) designs, develops, markets and supports enterprise application software solutions and services primarily for use by midsized companies and the divisions and subsidiaries of Global 1000 enterprises, which generally consist of companies with annual revenues between $25 million and $1 billion, and emerging enterprises, which generally consist of rapidly growing businesses with annual revenues under $25 million. Epicor’s solutions are designed to help companies focus on their customers, suppliers, partners, and employees through enterprise-wide management of resources and information. This collaborative focus distinguishes the Company from conventional enterprise resource planning (ERP) vendors, whose primary focus is improving internal business processes and efficiencies. The Company believes that by automating and integrating information and critical business processes across their entire value chain, enterprises can improve not just their bottom line, but also their top line, allowing them to compete more effectively in today’s increasingly global economy.
Total revenues for the three months ended September 30, 2009, decreased 27.4% to $98.6 million, compared to $135.8 million for the three months ended September 30, 2008. License revenue decreased by 38.7% to $13.7 million for the three months ended September 30, 2009, when compared to license revenue of $22.4 million for the three months ended September 30, 2008. Consulting revenue decreased by 23.7% to $31.7 million for the three months ended September 30, 2009, when compared to consulting revenue of $41.6 million for the three months ended September 30, 2008. Maintenance revenue for the three months ended September 30, 2009, was $48.2
million, representing a decrease of 3.9% compared to maintenance revenue of $50.1 million for the three months ended September 30, 2008. Hardware and other revenue for the three months ended September 30, 2009 was $4.9 million, representing a decrease of 77.2% compared to hardware and other revenue of $21.6 million for the three months ended September 30, 2008. See discussion in Results of Operations for more detailed information.
Total revenues for the nine months ended September 30, 2009, decreased 18.6% to $297.7 million, compared to $365.9 million for the nine months ended September 30, 2008. License revenue decreased by 31.9% to $44.5 million for the nine months ended September 30, 2009, when compared to license revenue of $65.3 million for the nine months ended September 30, 2008. Consulting revenue decreased by 16.5% to $95.2 million for the nine months ended September 30, 2009, when compared to consulting revenue of $114.0 million for the nine months ended September 30, 2008. Maintenance revenue for the nine months ended September 30, 2009, was $142.4 million, which was flat when compared to maintenance revenue of $145.0 million for the nine months ended September 30, 2008. Hardware and other revenue for the nine months ended September 30, 2009, was $15.6 million, representing a decrease of 62.4 % compared to hardware and other revenue of $41.6 million for the nine months ended September 30, 2008. See discussion in Results of Operations for more detailed information.
Cash flows from operating activities were $32.9 million during the nine months ended September 30, 2009, compared to 2008 cash flows from operating activities of $49.6 million. Cash flows from operating activities decreased due primarily to an increase in net loss and less cash received on accounts receivable and for deferred revenue during 2009, as compared to 2008.
Pursuant to the terms of the acquisition agreement, shareholders of NSB received £0.38 in cash for each NSB ordinary share. The value of the fully diluted share capital of NSB was approximately $311.8 million, not including transaction costs, based on the exchange rates in effect at the time the United States dollars were converted to pounds sterling for purposes of the transaction. The consideration payable under the agreement was funded by the Company with approximately $161.0 million in existing cash balances, with the balance of the consideration being funded by drawing from funds available pursuant to the 2007 credit facility (Note 8 in Notes to Consolidated Financial Statements).
Rate This Article: |
  |