Sage Posts 60% Increase in FY Earnings

Posted by accountingweb on Dec 23 1999 137 printer friendly

The parent company of Sage, makers of the line of popular accounting software like DacEasy, Acuity and BusinessWorks, has just announced a 60 percent increase in income over the previous fiscal year with revenues just shy of $500 million. The Sage Group's fiscal year-end was Sept. 30.

Spokespersons attribute the increase to the Peachtree acquisition in first quarter 1999, and continuous strong sales of all Sage software, including the release of Internet-capable MAS 90.

After tax income for fiscal year 1999 was $82 million, a 56 percent over the prior year. Earnings per share increased 46 percent over the prior year to 69 cents.

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?

This Week on AccountingWEB

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.

WestArk RSVP and Fayette County Community Action Agency – organizations that received grant funding through the IRS Tax Counseling for the Elderly (TCE) program – spoke with AccountingWEB about how they assist senior citizens in their communities.

CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.

Retiring KPMG Centennial Professor of Accounting at the University of Texas at Austin McCombs School of Business Robert May, PhD talks with AccountingWEB about his rewarding forty-three-year career.