IFS Glows Amidst The Mid-Market Gloom
P.J. Jakovljevic - September 28, 2001

Event Summary

On August 24, IFS AB (XSSE:IFS), a Swedish mid-market enterprise applications vendor, reported upbeat results for the second quarter of fiscal 2001 amidst a prevailing gloom within the Tier 2 & 3 vendors. After four consecutive losing quarters, IFS was pleased to report Q2 2001 profits of ~$2 million after net financial items, compared with a loss of ~$10 million for the corresponding period in 2000 (See Figure 1). Total revenue increased by 62% to ~$84 million, compared with ~$52 million for Q2 2000. License revenue was up a whopping 82% to ~$40 million, compared with ~$22 million a year ago...