However, revenue from client services off 16.6 percent because of reduced license sales earlier in the year. All figures are in Canadian dollars. Licenses sales for the company’s nonprofit accounting application, Serenic Navigator, were up 31l8 percent. Direct sales rose 24.5 percent while reseller sales rose 24.5 percent. The company had success in recruiting new resellers in the United States and internationally. However, Serenic said the new VAR's impact would not be felt until the current fiscal year.
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FOURTH QUARTER MAKES SERENIC’S YEAR
Booming fourth-quarter software license sales pushed nonprofit vendor Serenic to greatly improved results for its year ended February 28. The company reported net income of $39,110 compared to a 2012 loss of $176,375. Revenue rose to $12.1 million, a 12-percent increase from last year. Results got a big kick from fourth-quarter license sales of $1.8 million, which represented a 164.1-percent increase from last year’s corresponding period.
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