July
28

Sage Group reports 9 month results meet management expectations

Posted By: Wayne Schulz - Contact the author

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sage uk interim results.jpg

The Sage Group PLC, corporate parent of Sage North America, yesterday reported that earnings for the nine months ending June 30, 2009 will be in line with their management expectations.

Citing challenging market conditions, Sage UK points to solid growth in subscription revenues.

According to Paul Walker, Chief Executive:

There has been no significant change in market conditions during the quarter ended 30 June 2009 and we are planning for markets to remain testing. However, our proven business model and large, geographically diverse, customer base give us confidence that we are well positioned for these conditions and the eventual market recovery. We expect to report results for the year ended 30 September 2009 in-line with market expectations

Sage Group plc Interim Management Statement

Microsoft Reporting 29% Profit Slide

On July 23 Sage’s chief US competition, Microsoft, reported a 29% profit drop and their first ever sales decline since going public.

Sales declined in all of Microsoft’s main business units. Windows software revenue dropped 29 percent after the PC market contracted for three straight quarters. Some customers are holding off purchases until a new version of Windows comes out in October. Demand for Office software and advertising on Microsoft’s Web sites also waned.

“It’s a real disappointment,” said Brendan Barnicle, an analyst at Pacific Crest Securities in Portland, Oregon. He has an “outperform” rating on the shares. “It’s a significant miss” in revenue.

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About Wayne Schulz

Wayne is a Sr Consultant who has worked with Sage MAS 90 and MAS 200 since 1986. He provides technical support to companies located throughout the United States on all versions of MAS90 and MAS200. Contact him on Twitter or Facebook or email wayne@s-consult.com. Review a list of all Schulz Consulting Prior MAS90 News Post Archives here. The views expressed on this site are solely those of the author and do not reflect the opinion or position of any other person or company. We are NOT in the business of providing tax, accounting or audit advice and you are advised to consult with your tax professional in such matters and not to rely on any information here as authoritative tax, technology or accounting advice.

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