TMCnet News
Double-Digit Growth in Infor Q1 License Revenue(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 17 September 2014 Release date- 16092014 - Infor's 2015 Q1 software license fees and subscriptions revenue increased 22% at actual currency rates and in constant currency1 compared to its fiscal 2014 recast Q1, the company announced on its quarterly Lender Update Sept. 12 that fiscal. Non-GAAP Q1 license fees and subscriptions revenue2 increased 21% at actual currency rates and 20% in constant currency driven by strong license sales and continued momentum in software-as-a-service (SaaS) in the first quarter of Infor's fiscal year 2015. The areas of performance that showed the most momentum were the result of the continued drumbeat of Infor 10x product releases including Infor CloudSuiteTM, which was announced in March. Bookings of SaaS subscription licenses more than doubled from the same quarter in FY14. This marked the first full quarter of sales for Infor CloudSuite, the first group of industry-specific application suites available on Amazon Web Services' (AWS) cloud. Since its announcement in March, Infor has delivered CloudSuites for Automotive, Aerospace & Defense, Hospitality, and Industrial Manufacturing. Infor now has more than 25 million users of its cloud applications. 'The last three-and-a-half-years have truly marked the rebirth of Infor. We've evolved our product suites at an unprecedented pace and spent more than a billion dollars on engineering to deliver beautiful software, purpose-built by industry, on a modern platform,' said Infor CEO Charles Phillips. 'The strong results of our first quarter are only the beginning. Over the next 12 months, Infor will deliver a step-change in business software with our next enterprise release, Infor Xi, which is built for the cloud, using mobile-first design, and engineered with science to embrace machine learning and big-data analytics for midsize companies to multinational enterprises.' Learn more. Footnotes: 1 In order to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency fluctuations, we compare the percent change in the results from one period to another period using constant currency disclosure. To present this information, results for our entities in the first quarter of fiscal 2015 reporting in currencies other than the U.S. Dollar are converted into U.S. Dollars at constant exchange rates (i.e. the rates in effect in the recast first quarter of fiscal 2014) rather than the actual exchange rates in effect during the first quarter of fiscal 2015. 2 This press release contains certain financial information determined by methods other than in accordance with generally accepted accounting principles in the United States (GAAP). Non-GAAP software license fees and subscriptions revenues include pro forma adjustments to increase software license fees and subscriptions revenues that we would have recognized if we had not adjusted acquired deferred revenues to their fair values as required by GAAP. These non-GAAP disclosures have limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of Infor's results as reported under GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Infor's management uses these non-GAAP measures in its analysis of Infor's performance because it believes these measures are material and will be used as a measure of Infor's performance by investors. (c) 2014 Electronic News Publishing - |