Epicor Software 4Q profit falls |
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Tue, 30 Jan 2007 23:17
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IRVINE, Calif. (AFX) - Business software maker Epicor Software Corp. said Tuesday its fourth-quarter profit fell 15 percent on hefty charges from a year-ago period lifted by a hefty income tax benefit.Quarterly earnings fell to $6.7 million, or 12 cents per share, from $7.9 million, or 14 cents per share, in the prior year period. Latest-quarter results include a $2.8 million stock-based compensation charge and a $2.8 million amortization charge. In the 2005 fourth quarter, the company's earnings included a multiple charges and a $1.6 million income tax benefit.Excluding items, the company would have posted profit of $12.3 million, or 21 cents per share, about flat with last year's $12.1 million, or 21 cents.Revenue rose 28 percent to $104.4 million from $81.7 million in the fourth quarter of 2005, largely due to growth in net license revenue, which climbed 26 percent.Analysts polled by Thomson Financial expected earnings of 21 cents per share on revenue of $103 million.Net income for the year fell 54 percent to $28.8 million, or 42 cents per share, from $52 million, or 92 cents per share in 2005. Revenue rose 33 percent to $384.1 million from $289.4 million in 2005.Epicor shares fell 3 percent, or 45 cents, to $13.61 in electronic aftermarket trading, having closed flat at $14.06 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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