Privately-held – Tom Nies-held in fact – Cincom Systems Inc, Cincinnati, Ohio, has announced that worldwide sales rose 4% to $168.2m in 1989 and fourth quarter profits jumped by $9.5m to an undisclosed figure which Cincom, as a private company, is entitled not to reveal. Net revenue for the same period went up 26% to $51.6m. Annual renewal fees reached $18.5m, an increase of 44% on the previous figure of $12.8m. Cincom Systems restructured US operations in April and October last year to mirror more closely those of the European subsidiaries and adopt a product oriented sales and marketing strategy. The company says that reorganisation has borne fruit and points to US revenue of $17.4m in the fourth quarter, up $4m from last year, with a $4m increase in profits; the company derives 66% of revenue from international markets, and it rose $37.3m in the fourth quarter, up by 14%; profits also jumped to $10.8m, a 33% rise; Europe North contributes most to group turnover, followed by Europe West, and then Europe Central.
