In fact the one consolation is that software sales are perking up as the Markham, Ontario company was becoming to look less like as ERP vendor and more another dreary services outfit.
In the fourth quarter to April 30, net income fell 21.6% to$18.6m on revenue 0.9% up at $117.2m. For the year, net income rose 34.7% to $77m on revenue 0.2% lower at $444.4m.
CEO Charles Jones said that internally developed software products contributed $6.6m in license fees in the fourth quarter and overall software sales grew 8.9% to $71m. But overall they represented only 16% of the company’s sales last year with support and services providing 81%.
With the company sitting on a $188.2m cash pile, CFO Donna de Winter said the company was continuing to look at acquisition opportunities that would enhance its existing product lines, expand its customer base and build its revenue.
