Infor had a good quarter for the period ended October 31, even thought net income of $13.1 million was sharply lower than the $65 million in earnings' reported a year earlier. Revenue rose to $685.6 million for the recently ended second quarter, an increase of 3.6 percent, from $673.2 million. However, consulting revenue dropped to $180.8 million, down 4.1 percent from $188.6 million a year ago. CEO Charles Phillips spelled out the reasons during this week's earnings webcast.
Many people think coal in the stocking is the sign of a bad Christmas. A bad Christmas is one in which the thing you find in your stocking is a foot. ... A photograph this week of actress Alyssa Milano in a see-through dress is sort of like seeing a wet t-shirt competition in which it was not necessary to actually use water. Thought for a minute it was part of public service announcement for La Leche League.
Avalara has acquired VATLive.com, an online service that provides tax news, analysis and rate changes. The Bainbridge Island, Wash.-based sales-and-use tax vendor, apparently putting its recently $100 million in funding to use quickly, said the deal is important in its work to expand globally by supporting indirect tax needs in other countries. Avalara will maintain and develop VATLive.com.
Xero says it now has more than 400,000 users of its low-cost cloud-based accounting application. That means it has added 29,000 since the second quarter ended on September 30, an increase of 7.8 percent. By comparison, Intuit had 739,000 QuickBooks Online users when its first quarter ended on October 31, up from 683,000 when the fourth quarter ended on July 31, an 8.3-percent increase.
Infor has disclosed the price it paid for its fall acquisition of Saleslogix, the cloud-based CRM hot potato. The product, now called Infor CRM, was purchased for $30.1 million. In reporting its results for the second quarter ended October, the software company said it recorded goodwill of $18.2 million for the Saleslogix assets it acquired from Swiftpage so we pretty much have an idea of the value carried on Swiftpage's books.