System Software Associates (SSA) claims it has had its most successful year ever, with a small profit replacing last year's heavy losses.
For the full year ended 31 October, the business application supplier's revenue totaled $430.5 million, up 26 per cent on last year. Net income was $1.0 million, wiping out a loss of $32.8 million for fiscal 1996. Software licence revenues for the year hit $303 million, a 34 per cent increase over 1996.
Revenue for the fourth quarter ended 31 October was $125.6 million, up from $109.4 million in the same period in 1996. Net income was $2.7 million, a turnaruond from a loss of $5.7 million last year.
Both the fourth quarter and full year results were impacted by special charges related to the recent refinancing of the company. Roger Covey, SSA chief executive officer, said: "By every measure - revenue, systems going live, new account wins, benefits brought to clients - 1997 was a record year."
Covey said the company had enjoyed a strong finish to the year. "By 31 October, over 1,000 major industrial sector companies worldwide had chosen SSA's BPCS Client/Server Version 6.0 as the best way forward for their enterprise," he claimed.
Covey said that, for the year, the firm had seen growth and performance in all geographies worldwide, particularly north America and Europe, along with China and Japan.
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