Baan Achieves A Speedy Recovery Despite The Tough Times
P.J. Jakovljevic - July 2, 2001

Event Summary

In June, Baan, the resurrected global provider of enterprise business solutions, reported continued growth and profitability for the six months ended on March 31, 2001, following its acquisition by Invensys, the global automation and controls group with headquarters in the UK. During the first three months of 2001 and its second quarter, Baan total revenue was $103 million, which is 3% less compared to a year ago, but a 3% increase compared to the previous quarter. License revenues grew to approximately $36 million, which is an increase of over 12.5% compared to the previous quarter, and an increase of 45% compared to a year ago. Overall Baan made a profit of approximately $8 million for the second half of the Invensys financial year...