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Infor delivers strong third quarter results

Infor delivers strong third quarter results

Infor delivers strong third quarter results

Infor delivers strong third quarter results

Infor delivers strong third quarter results

Business applications company, Infor, has announced the results for its third quarter fiscal 2016 year, ending January 31.

It said its total revenues increased seven per cent in constant currency, as compared to Q3 in fiscal 2015, with software license fees and subscriptions revenues up 27 per cent in constant currency over the same period.

Its Non-GAAP total revenues increased seven per cent in constant currency as compared to Q3 in fiscal 2015, with non-GAAP software license fees and subscriptions revenues up 32 per cent in constant currency over the same period.

Infor also said it experienced strong growth for Infor Consulting Services (ICS), with the addition of more than 600 new customers in the quarter.

Infor CEO, Charles Phillips, said the company’s total revenue, license and subscription revenue, and consulting revenue all increased as it continues its transition to Cloud computing.

“Q3 was another strong quarter for Infor, with ongoing growth in our business as we continue to set the standard for successfully transitioning to a Cloud business model.

“Infor’s investments in product, brand building, consulting services enablement, and salesforce coverage continue to pay off as reflected in our new sales deal pipeline which, propelled by SaaS, is at the highest levels in company history as we enter our fourth quarter,” he said.

Infor also recently announced a $25 million investment in retail analytics provider, Predictix in Q3, continuing the company’s push to deliver innovation to an industry facing continued disruption.

As part of the agreement, Infor will become a reseller of Predictix, deploying, managing and supporting the applications in the Infor Cloud, and will infuse Predictix into development of Infor CloudSuite Retail, a new suite of enterprise applications delivered in the Cloud and designed for today’s retailing landscape.

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Tags business applicationsCloudfinancialsInfor

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