| Friday, 17 February 2012 15:04 |
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Exact ended 2011 with a 5.5-percent drop in revenue because of the company’s closure of operations in several countries last year and divestment of its Sligo subsidiary in 2010. Net profit dropped to about $19.3 million, off by 55.7 percent from 2010. The bottom line was impacted by an impairment charge of about $24 million for its Longview operations.
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The Editor
Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.
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About the Author: Wayne Schulz is a senior consultant with Schulz Consulting, located in Glastonbury, Conn.
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