Epicor reports Q4 & full-year 2007 results

08 Feb '08

3 min read

"We believe the opportunity for continued solid growth in our focused vertical markets is stronger than ever and our pipelines continue to grow. Additionally," Klaus continued, "the completion today of our acquisition of NSB Retail Systems (NSB) will create a larger, stronger and more profitable Epicor, and we look forward to immediately integrating NSB into Epicor and beginning to realize the efficiencies and synergies we expect to drive throughout the combined company. 2008 promises to be another exciting year of double digit growth for Epicor and we are confident that we will deliver on our technology and financial commitments."

Total 2007 fourth quarter revenues increased approximately 15% to a Company record $119.7 million, compared to total revenues of $104.4 million in the 2006 fourth quarter. 2007 fourth quarter GAAP net income was $22.5 million, or $0.38 per diluted share, compared to $6.7 million, or $0.12 per diluted share, in the 2006 fourth quarter. GAAP net income for the 2007 fourth quarter benefited by $14.0 million or $0.24 per diluted share, from a non-cash income tax benefit due to the release of deferred tax valuation allowances.

2007 fourth quarter non-GAAP net income increased more than 30% to $15.9 million, or $0.27 per diluted share, compared to non-GAAP earnings of $12.3 million, or $0.21 per diluted share, in the 2006 fourth quarter. In addition to excluding amortization and stock-based compensation expense, non-GAAP earnings for the 2007 fourth quarter also excludes acquisition-related charges and restructuring and other charges, all net of tax, and the non-cash income tax benefit.

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