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April 4, 2011

Lawson Software Q3 revenues grew to $196m

License fee revenue increased to $33.8m in Q3 FY11

By CBR Staff Writer

Lawson Software has reported net revenues of $196m for the third quarter 2011, an increase of 5% at constant currency compared to $186m for the same period last year.

Revenues from license fee increased by 5% year-over-year to $33.8m, and maintenance services revenue grew 9% to $97.4m.

The company posted an operating income of $22.3m for the third quarter of 2011, an increase of 106%, compared to $11.6m for the same period last year.

For the quarter ended 28 February 2011, the company posted a net income of $21.4m, or $0.13 per share, as compared to $1.7m, or $0.01 per share, for the same period last year.

Lawson Software president and chief executive officer Harry Debes said the total value of software license contracts signed in the quarter grew by 27%, led by robust sales in their Healthcare vertical.

"Non-GAAP operating margin of nearly 19% improved year-over-year, driven by increases in both S3 and M3 segment profitability," Debes said.

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"We completed the annual maintenance renewal cycle for our international customers and renewals rose to an estimated 94%, and all of these items contributed to a 68% increase in cash from operations to $73 million in the quarter."

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