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April 7, 2009

Lawson Software Q3 revenue dips

Consulting revenue fell 34% to $63.16m

By CBR Staff Writer

Lawson Software has reported net income of $7.4m for the third quarter 2009, compared to $0.72m in the year-ago quarter, on revenue down 18% at $173.8m.

Operating income fell 9% to $14.9m, while diluted EPS grew to $0.04 from $0.00. The company said maintenance revenue grew 1% to $85.8m, while license revenue fell 22% to $24.88m, and consulting revenue fell 34% to $63.16m.

For the nine-month period, the company reported a 10% decline in net income to $9.07m compared to $10.03m a year ago, on revenue down 8% at $571.12m.

Harry Debes, president and chief executive at Lawson, said: We are operating well in a challenging business environment. During this fiscal year, revenues have been negatively impacted by reduced capital spending and weakening foreign currencies, things which are beyond our control. We can control how we react to economic conditions and our focus has been to preserve profitability. This quarter we earned $0.10 of non-GAAP EPS and 15% non-GAAP operating margin.

For the fourth quarter the company expects revenue between $175m and $182m and diluted EPS between $0.04 and $0.07.

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