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SSA GT Reveals Revenue and License Growth.

SSA Global Technologies Inc is starting to show the fruits of its acquisition-centric strategy, with fourth-quarter 2003 unaudited financial results presenting evidence that it is starting to fulfill its growth targets.

For the period ending July 31, the privately held ERP provider reported total revenue of $85.2m, a 19% increase on the year-ago quarter, and EBITA earnings of $22.1m. Software license revenues were $29.9m, 41% up over the prior year quarter and 35% of total revenue for the quarter. The company currently has $65m in cash.

For the full year, total revenue was up 50% on 2002 at $285.4m, and EBITA earnings came in at $65.5m, 23% of total revenue. Software license fees represented 33% of total revenue, with the remaining 67% coming from maintenance and services. The results do not include the effects of SSA GT's July 2003 acquisition of Baan.

Commenting on the results, Mike Greenough, president, chairman and CEO said he is keen to dispel the perception that SSA is a maintenance-centric company with limited license revenue. "SSA GT is at the vanguard of industry consolidation with several successful acquisitions this fiscal year. Our financial record of consistent revenue growth and profitability is unique in the industry. As a percentage of total revenue, our software license fees are among the highest in the industry," he said.
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Title Annotation:Q4 2003
Publication:Computergram International
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 8, 2003
Words:224
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