Maconomy grows US revenue 36% in Q3 2009

BOSTON--(BUSINESS WIRE)--Maconomy, the international supplier of ERP solutions for Professional Services Organizations (PSO), wrapped up a solid third quarter and Maconomy’s US operations realized 36% revenue growth YTD compared to the same period in 2008.

Globally, Maconomy announced earnings for the quarter before depreciation (EBITDA) of USD 1.3 million and an improved EBITDA margin of 13%, up from 9% in the same period last year. The earnings growth was secured on total revenue of USD 9.9 million, 6% lower than in 2008 (3% adjusted for exchange rate fluctuations).

“We are very satisfied with the results in Maconomy US and that we succeeded in growing revenue 36% YTD. Globally, it has been an exciting quarter where we got our foot in the door in a number of attractive industries and entirely new markets. This spring we carried out a number of important cost reductions designed to firm up our full-year profit outlook despite lower license revenue. That effort is clearly evident in the third quarter results. Accordingly, we maintain our expectations for a full-year EBITDA profit of USD 3 million on revenue of USD 43 million,” says Steen Andersen, President, Maconomy US.

Maconomy specializes in optimizing business processes in project-focused companies – such as international agencies, consulting firms and tax, audit and accounting firms – by developing specially designed ERP software solutions for the specific industry in which each client operates.