Epicor To Try The Divestiture Tack, Too
P.J. Jakovljevic - June 1, 2001

Event Summary

On May 2, Epicor Software Corporation (NASDAQ: EPIC), one of leading providers of integrated enterprise and eBusiness software solutions for the mid-market, reported its financial results for the first quarter ended March 31, 2001. The company's license revenue plummeted over 40% to $12.3 million, while service revenue fell 3% to $33.9 million, generating total revenue of $46.9 million a 17% decline compared to $56.6 million for the Q1 2000. Net loss for Q1 2001 was $22.1 million, compared with a net loss for the same period last year of $14.2 million. The net loss for the first quarter 2001 includes various adjustments made to asset values, primarily accounts receivable and capitalized software development costs, to better reflect the current economic environment and geographical market conditions...