Sage Posts 60% Increase in FY Earnings | AccountingWEB

Sage Posts 60% Increase in FY Earnings

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.

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