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.

You may like these other stories...

IRS audits less than 1 percent of big partnershipsAccording to an April 17 report from the Government Accountability Office (GAO), the IRS audits fewer than 1 percent of large business partnerships, Stephen Ohlemacher of the...
Is it time to consider a value added tax?Forbes contributor Joseph Thorndike wrote yesterday that he believes the tax reform proposal by House Ways and Means Committee Chairman Dave Camp (R-MI) was dead on arrival. But he...
Read more from Larry Perry here and in the Today's World of Audits archive.The planning phase of an audit engagement of an entity using US GAAP or a special purpose framework will, with minor differences, include similar...

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.