Business performance management software group Geac Computer Corporation has experienced its strongest fourth quarter in three years. Geac is listed on the Nasdaq.
Final-quarter net income of $22.6 million or $0.26 per diluted share compares with a net loss of $2.3 million or $0.03 per diluted share for the same quarter a year before.
Gross revenue of $116.1 million was up from the $102.6 million of the prior-year quarter and was steady from the third quarter, traditionally the best quarter.
For the year to 30 April, Geac achieved revenue of $445.3 million, up 9% from the $408.5 million of the 2003 financial year. Full-year net income of $57.2 million ($0.66 per diluted share) was 79% higher than the $31.9 million ($0.39 per diluted share) of the previous year.
"For the full year overall, Geac performed well in a stabilising enterprise resource planning software market," says Geac president and CEO Charles Jones.
"Our 79.4% increase in net income is testimony to the fiscally responsible manner in which Geac management has integrated our new business, invested in key products and managed all company resources.
"Fiscal year 2004 gives us a solid platform upon which to build potentially even greater shareholder value going forward, as we continue to execute our 'build, buy and partner` strategy to maximise the value and utility of Geac solutions for new and existing customers worldwide."
Geac`s System21 and commerce.connect products are supported locally by Enterprise Outsourcing Holdings and the SmartStream and Enterprise Server products by Business Connexion.
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