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May 8, 2009

Epicor narrows first-quarter loss

License revenue fell 29% to $13.2m

By CBR Staff Writer

Mid-market ERP vendor Epicor Software has reported a net loss of $1.62m for the first quarter 2009, compared to a loss of $8.02m in the year-ago quarter.

The company reported a revenue of $98.69m, down 3.5% compared to $102.2m for the first quarter of 2008. It made an operating loss of $2m, compared to a loss of $9m in the same period last year. It had cash and cash equivalents of $83.2m and free cash flow of $7.2m.

The company said license revenue fell 29% to $13.2m, while consulting revenue grew marginally to $31.5m. Maintenance revenue grew 2% to $47m, while hardware and other revenue increased 17% to $7.2m.

George Klaus, president and chief executive at Epicor, said: This year proved especially challenging, as deteriorating economic conditions led to a very slow January and February. We are continuing to see indications that customers may be more willing to move forward with projects, and we expect to see improvement in our top and bottom line results throughout the year.

In the second quarter the company expects revenue between $100m and $105m and non-GAAP EPS in the range of $0.08 to $0.09.

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