MAPICS Clings To Its Customers' Loyalty
P.J. Jakovljevic - May 24, 2001

Event Summary

On April 30, MAPICS, Inc. (NASDAQ: MAPX), one of the leading providers of software applications for mid-sized manufacturers, reported results for the second quarter of its fiscal 2001. For the three months ending March 31, 2001, MAPICS reported earnings of $1.5 million, before goodwill amortization, on revenue of $34.0 million, which compares to the year-earlier period, when earnings totaled $640,000, excluding special charges and goodwill amortization, on revenue of $34.5 million. The Company reported breakeven earnings for Q2 2001 including goodwill amortization, compared with a net loss of $12.3 million, for Q2 2000. While the software license revenues of $10.9 million declined 27% compared to a year ago license revenues of $15 million, the company generated a total of $8.5 million in cash from operations that enabled it to reduce debt by $2.8 million and increase its cash position to $17.2 million...