Business applications maker Lawson Software has finalised two acquisitions and reported a jump in profit year on year.
The company reported flat revenue of $88m (£53m) for the first quarter the 2004 financial year, up from $87.4m in the same quarter a year ago. It also posted a profit of $3.2m (£1.9m), reversing a loss of $1.9m in the same quarter a year ago.
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Significantly, Lawson also saw a 25% rise in licence fees, to $22.7m (£13.8m) in the quarter, compared with $18m in the first quarter of 2003.
"We witnessed the return of year-on-year licence revenue growth, driven by a strong quarter from our health care vertical," said Lawson president and chief executive officer Jay Coughlan.
"In addition, we continue to strengthen our business with acquisitions we've recently announced. We are solidly executing our vertical strategy and winning in the marketplace."
Lawson finalised two acquisitions this week. One was Apexion Technologies, which makes surgical instrument and supply tracking software and is expected to boost Lawson's medical industry and mobile connectivity offerings.
The other acquisition was Closedloop Solutions, which makes collaborative tools to assist financial budgeting, planning and forecasting processes.
Marc L Songini writes for Computerworld