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October 1, 2010

Lawson Software Q1 revenues increase marginally to $175m

Expects revenue to be in the range of $184m to $189m for Q2 2011

By CBR Staff Writer

Lawson Software has reported net revenues of $175m for the first quarter 2011, an increase of 4% compared to $169m for the same period last year.

Revenues from license fee decreased 4% year-over-year to $25m, while maintenance services revenue grew 9% to $95m.

The company posted an operating income of $18m for the first quarter of 2011, a decrease of 13%, compared to $19m for the same period last year.

For the quarter ended 31 August 2010, the company posted a net income of $10m, or $0.06 per share, as compared to $6m, or $0.04 per share, for the same period last year.

Lawson Software president and chief executive officer Harry Debes said that strong Q1 performance gives the company a good start to their fiscal year.

"Total non-GAAP revenues grew nearly 5% and the company posted a non-GAAP operating margin of approximately 17% and non-GAAP EPS of $0.11, both increasing over last year," Debes said.

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Lawson Software anticipates net revenue in the second quarter of 2011 to be in the range of $184m to $189m and net income to be in a range of $0.04 to $0.05 per diluted share.

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