Maconomy grows US revenue 36% in Q3 2009

Globally, Maconomy announced earnings for the quarter before depreciation (EBITDA) of USD 1.3 million and an improved EBITDA margin of 13%, up from 9% in the same period last year. The earnings growth was secured on total revenue of USD 9.9 million, 6% lower than in 2008 (3% adjusted for exchange rate fluctuations).

“We are very satisfied with the results in Maconomy US and that we succeeded in growing revenue 36% YTD. Globally, it has been an exciting quarter where we got our foot in the door in a number of attractive industries and entirely new markets. This spring we carried out a number of important cost reductions designed to firm up our full-year profit outlook despite lower license revenue. That effort is clearly evident in the third quarter results. Accordingly, we maintain our expectations for a full-year EBITDA profit of USD 3 million on revenue of USD 43 million,” says Steen Andersen, President, Maconomy US.

Maconomy specializes in optimizing business processes in project-focused companies – such as international agencies, consulting firms and tax, audit and accounting firms – by developing specially designed ERP software solutions for the specific industry in which each client operates.

Maconomy US
Steen Andersen, 617-226-7615
steen.andersen@maconomy.com