Infor Reports 10 Percent Growth in Sales
June 25, 2013 Alex Woodie
Infor last week divulged some preliminary, non-binding financial results that show steady sales growth for its fourth quarter of 2013, which ended May 31. According to the company, it grew software license fees and subscription revenues by about 10 percent during its quarter compared to the same quarter in 2012.
The company didn’t divulge much beyond that, except to say that, at constant currency, the growth rate for the fourth quarter will likely be about 9 percent instead of 10, and that non-GAAP license fee and revenue figures will be 9 percent at both constant currency and actual rates. Infor doesn’t have to say much more than that, since it’s not a publicly owned company. But the company has issued publicly owned debt, and is widely thought to be on the path to a potential IPO, which is why Infor releases some financial data.
The New York City company is giving SAP and Oracle a run for its money by building what it hopes will be a third option to the ERP duopoly. To that end, Infor loves to present statistics about product development.
The company says it’s spent more than $350 million on research and development in fiscal 2013, and is on track to deliver more than 300 new products and 11,000 new features during the year. That represents an increase of approximately 150 and 100 percent, respectively, from new products and features released in 2012.
“Infor has introduced more new products and enhancements in the last 18 months than in the previous five years combined,” Infor co-president Duncan Angove says. “This inflection point in market share gains for Infor is a direct consequence of over two years of accelerated and unprecedented investment and the freedom to innovate and move quickly.”
The company has a variety of irons in its Infor 10x fire, including the Ming.le social interface, the new SoHo UI, mobility, new products built on Salesforce.com, cloud offerings with IBM, and hooks into the hosted RedShift business intelligence offering from Amazon.