MRO Software the leading provider of strategic asset and service management solutions, today announced the largest ever revenue quarter in its history for third fiscal quarter that ended on June 30, 2005.
Total revenues for the third quarter were up 15 per cent at US$ 53.2 million compared with $46.3 million for the third quarter of the prior year. On a GAAP basis, the company reported net income for the quarter of US$ 4.1 million or US$ 0.16 per diluted share, compared with net income of US$ 3.1 million or US$ 0.12 per diluted share for the same quarter last year, a 33 percent increase in Eearnings Per Share (EPS). The Company also reported a net income on a non-GAAP basis for the third quarter of US$ 4.5 million, or US$ 0.17 per diluted share compared with non-GAAP net income of US$ 3.6 million or US$ 0.14 per diluted share for same quarter last year, a 21 per cent increase in EPS.
"This is the largest revenue quarter in history of MRO Software. Moreover we are extremely encouraged by the early response to Maximo Enterprise Suite from the Middle East. The regional market is clearly receptive to the idea of a combined asset and service management solution on a single, modern platform," said Oliver Schulz, Sales and Marketing Manager, eSolutions trading as MRO Software Middle East. "In addition, we saw ongoing growth in our industry solutions as well as sales for the traditional Asset Management side of our offerings.”
For the third quarter, revenues from software license sales were US$ 19.2 million, compared with US$ 13.0 million for the same quarter last year, an increase of 48 per cent. Support and services revenues were $34.0 million for the third quarter, compared with US$ 33.3 million for the same quarter last year, an increase of 2 per cent.
There were a total of 252 worldwide software license sales for the quarter, including four transactions of US$ 1 million or more. Customers from a wide variety of industries in the Middle East region purchased licenses during the quarter including: Oman Wastewater Services Co., DNATA, Kuwait Drilling Co., Kuwait’s National Aviation Services and a National GCC Defence Organisation among others. The third quarter also witnessed the first regional sale of ‘MAXIMO Enterprise Suite IT’ license to Lebanon and Gulf Bank for IT asset management.
As of June 30, 2005, the balance sheet contained US$ 123.3 million in cash and marketable securities, an increase of US$ 5.2 million from the second quarter, and no long-term debt.
About eSolutions
With over 50 full time and Maximo dedicated staff based in the area, “eSolutions trading as MRO Software Middle East” is the leading provider of solutions for Strategic Asset & Service Management in the Middle East and North Africa.
eSolutions is head quartered at Dubai Internet City and offers an additional regional office in Saudi Arabia to promote Maximo Enterprise Suite software to accounts of all sizes in the Middle Eastern and North African regions through appointed agents in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, UAE and Yemen. The sales team is fully backed up by the professional service team of over 40 full time Maximo Consultants to implement and support the solution. eSolutions can be contacted on +971 4 391 2999 or [email protected].
About MRO Software
MRO Software is a leading provider of e-Business solutions for strategic asset and service management. The company’s integrated suite of applications optimises performance, improves productivity and service levels and enables asset-related sourcing and procurement across the entire spectrum of strategic assets.
The company’s asset management solutions allow customers to manage the complete lifecycle of strategic assets including: planning, procurement, deployment, tracking, maintenance and retirement. Using MRO Software’s solutions customers improve production reliability, labour efficiency, material optimisation, software license compliance, lease management, warranty and service management and provisioning across the asset base.
MRO Software (Nasdaq: MROI) is a global company based in Bedford, Mass., with approximately 1,000 employees. The company markets its products through a direct sales organization in combination with a network of international distributors. MRO Software has sales offices throughout North America, Europe, Asia/Pacific and Latin America. Additional information on MRO Software can be found at http://www.mro.com.
