Charles Phillips, the CEO of Infor, said his company turned in a solid performance for the fourth quarter and year ended May 31. But what he could also have said during this week’s earnings conference call was that it did something it hadn’t accomplished in the previous four fiscal years, which is produce net income. Earnings of $121.7 million for fiscal 2014 compared to a 2013 loss of $76.2 million. We don’t know how Infor performed before 2010 as that is the earliest year shown in the vendor’s SEC filings. The black ink came on modest revenue growth. The top line for the most recently ended year was $2.76 billion, an increase of 1.6 percent from $2.72 billion the prior year. Infor cut costs in most areas, except one, research and development as the company kept its pledge to increase investment in product development. Spending in that category reached $391.8 million, up 11.3 percent from $351.9 million, a year earlier. Infor honored another promise—turning business over to its channel, as it reported that revenue from consulting services and other fees dropped by 1.9 percent. The reason for the drop here was company’s expanding its system integrator channel. Without providing additional detail, Phillips said 134 new channel partners were added in the fourth quarter.
INFOR REPORTS PROFIT FOR 2014
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