Lawson Software has reported net revenues of $197m for the fourth quarter 2010, an increase of 6% compared to $186m for the same period last year. Revenues from license fee grew 13% year-over-year to $38m, while maintenance services revenue grew 10% to $93m.
The company posted an operating income of $12.5m for the fourth quarter of 2010, a decrease of 2%, compared to $12.8m for the same period last year.
For the fourth quarter ended May 31, 2010, the company posted net loss of $2.6m, compared to a net income of $8.6m for the same quarter a year ago. Net income per share was down 60% to $0.02 from $0.05 per share for year ago quarter.
For the fiscal year, the company posted net income of $13m compared to $14m a year ago, and revenues were down to $736m from $757m for the same period last year.
Harry Debes, president and chief executive officer of Lawson Software, said: "Lawson delivered strong performance in our fourth quarter of fiscal 2010 to cap off a successful year. License revenues grew 13% during the quarter, driven in large part by sales in our S3 and M3 strategic growth markets.
"Organic license revenues grew 8%, before the benefit from our acquisition of Healthvision. We also generated a company record of more than $161m in cash flow from operations during the quarter, further validating that we are executing very well against our business strategy."
Lawson Software anticipates net revenue in the first quarter of 2011 to be in the range of $168m to $172m and net income to be in a range of $0.01 to $0.02 per diluted share.
