Epicor Software posts higher 4Q earnings
Business software company Epicor Software Corp. said Thursday its fourth-quarter profit soared on a jump in software license revenues and a decline in operating costs.
Earnings were $6.7 million, or 11 cents a share, in the three months ended Dec. 31. That compares with a profit of $1.5 million, or 3 cents a share, in the year-ago period.
Revenue fell to $111.9 million from $121.9 million.
Analysts surveyed by Thomson Reuters expected the company to earn 14 cents per share on revenue of $104.7 million.
License revenue rose 3 percent to nearly $26 million, while maintenance revenue rose 3 percent to about $49 million.
But the company's cost of sales dropped nearly 12 percent, while its operating expenses declined about 5 percent.
Epicor said it sees signs of more spending by business on information technology and it expects to see modest growth across all its business segments and bottom line this year.
For the full year, Epic posted a loss of $1.2 million, or 2 cents a share, compared with a loss of $3.5 million, or 6 cents a share, the year before. Revenue fell to $409.6 million from $487.9 million.
The company expects first-quarter revenue to range between $98 million and $100 million and earnings per share between 10 cents and 11 cents per share.
Analysts expect income of 10 cents per share on $99.3 million in revenue.
Epicor shares ended regular trading up 23 cents at $7.56.