Technology One revenues near $50m
Software vendor, Technology One, has announced annual revenues of $47.4 million for the year ending June 30, up 2 per cent, but net profit was down 20 per cent to $7 million. Technology One spent $9.3 million on research and development and announced it had added 46 medium to large organisations to its client list during the financial year. “This is a strong result given the continuing difficult market conditions for the IT industry, and our substantial investment program this financial year,” Technology One executive chairman, Adrian Di Marco, said. The company also announced it has accelerated the development of its next generation of software products. The first of these — Finance One: Connected Intelligence — is scheduled to be available by mid-2004.
European Parliament delays patent vote
The vote on a highly controversial proposed European Union (EU) law on software patents has once again been postponed. A presentation of the draft legislation on the “patentability of computer-implemented inventions” by European Parliament member, Arlene McCarthy, was to have been heard last week but has been pushed back until later this month. The new date and time for the presentation have yet to be arranged. Efforts to standardise patents across Europe for computer-implemented inventions, which include software, have provoked protest from two polarised camps. Open source and free software groups contend that copyright laws are enough to protect business innovations and want patents to be outlawed, while large businesses are calling on the EU to establish US-style patent laws allowing so-called business methods to be patented.