FRAMINGHAM (09/26/2003) - Business applications maker Lawson Software. this week said it had closed on two acquisitions and reported a jump in profit year over year.
The St. Paul, Minn.-based company Thursday reported essentially flat revenue of US$88 million for the first quarter of fiscal 2004, up from $87.4 million in the same quarter a year ago. But it also posted a profit of $3.2 million, reversing a loss of $1.9 million in the year-ago quarter. Significantly, Lawson also saw a 25 percent rise in license fees, to $22.7 million in the quarter, from $18 million in the first quarter of 2003.
"We witnessed the return of year-over-year license revenue growth, driven by a strong quarter from our health care vertical," said Lawson President and CEO Jay Coughlan in a statement about the results. "In addition, we continue to strengthen our business with new acquisitions we've recently announced. We are solidly executing our vertical strategy and winning in the marketplace."
Lawson closed two acquisitions this week: One was San Francisco-based Apexion Technologies Inc., which makes surgical instrument and supply tracking software and is expected to boost Lawson's medical industry and mobile connectivity offerings. The other acquisition was Redwood City, Calif.-based Closedloop Solutions Inc., which makes collaborative tools to assist financial budgeting, planning and forecasting processes.