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SAAS PUSHES INFOR QUARTER Featured

Charles Phillips, InforInfor reported net income of $37.6 million for the third quarter ended January 31, compared to a loss of $44.2 million a year ago. And revenue rose to $706.6 million in the most recently end period, an increase of 5.2 percent from $671.6 million in last year's corresponding period.

SAAS revenue did the trick as a 39.6-percent rise in that category countered declines in license revenue and maintenance. "Manufacturing was particularly strong," CEO Charles Phillips said during this week's earnings call. License fees for manufacturing rose by 17 percent while cloud revenue increased by 60 percent. Phillips noted manufacturing accounts for nearly 50 percent of maintenance revenue. Overall, SaaS revenue increased to $100.1 million, up from $71.7 million a year earlier. License revenue fell to $81.4 million, down 6.8 percent from $87.3 million. Product update and support fees dropped to $347.8 million, off .4 percent from $349.2 million. Phillips also said the company would have all products available on multi-tenant platforms by the end of the year. "The faster we get that done, the faster we see margin improvement," he said. "We are through the bulk of the product line and we feel good about the pace and quality of the work that has been done."

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