Epicor’s Financial Results
Last fiscal year (2010 ending 12/31) revenues increased 7% to $440 M. Total revenues are still below the 2008 high of $487 M. License fee revenue was up 16% to $82 M. Consulting revenue was up 7% to $138 M. Maintenance revenue was up 1.4% to $194 M. In spite of these increases the company reported a loss of $6 M.
During the year Epicor had one sale in excess of $1 M in license fees versus three sales in 2009. This appears to indicate that that company has not improved its competitive position in Tier I deals. If we assume Epicor sells 400 new customers per year, then we can assume the average size deal is around $200 K.
International revenue is about 30% of total revenue.
This may be the last time we report on Epicor financials as they turned private with the acquisition of Activant in 2Q2011. Combined annual revenues are now approximately $800 M.
Epicor Financial Facts
- 4,000 employees
- 33,000 customers
- 300 authorized partners
- 60 independent software vendors with complementary products
SAP Financial Results
Last fiscal year (2010 ending 12/31) revenues increased 17% to €12.5 B. License fee revenue was €3.3 B. Consulting revenue was €2.1 B. Maintenance revenue was €6.5 B. The company reported profit of €1.8B.
Last week SAP reported 3rd quarter results. Software revenue was up 28% to €841 M. Total revenue was up 14% to €3.9 B. We think SAP is setting the bar for growth in 2011.
In its 3Q2011 report SAP mentioned major wins in Americas including Johnson Controls, Inc., American Railcar Industries, Inc, Waters Corporation, Bristol-Myers Squibb Company, Pacific Coast Building Products. The report stated Americas had software revenue in the quarter of €321 M compared to €253 M in 2010.
The report highlighted that SAP announced the second release of SAP Business ByDesign (their SaaS model) in August.
SAP Financial Facts
- 53,000 employees
- 15,000 employees in R&D
- 75 SAP re-sellers of My SAP in US.
- 21 global service partners
- 1,700 service partners
- 500 software partners
- 29 global technology partners
- €1.7 B spent annually on R&D – up 9%
- 109,000 customers – 75% in mid market