SOURCE: Epicor Software Corporation

Epicor Software Corporation

October 06, 2010 08:30 ET

Epicor® Reports Preliminary 2010 Third Quarter Results

Strong Epicor 9 Sales Expected to Drive Approximately 40%-45% Year-over-Year Software License Revenue Growth and Help Generate Total Revenues of $109-$111 Million; Non-GAAP EPS Expected to Exceed Previously Provided Guidance

IRVINE, CA--(Marketwire - October 6, 2010) -  Epicor Software Corporation (NASDAQ: EPIC), a leading provider of enterprise business software solutions for the midmarket and divisions of Global 1000 companies, today announced that based on preliminary financial data, the Company expects reported financial results for its third quarter ended September 30, 2010, to exceed the Company's previously provided guidance. Driven by strong sales of Epicor 9, the Company expects 2010 third quarter software license revenue to be in the range of $19 to $20 million, an increase of approximately 40% to 45% over 2009 third quarter software license revenue of $13.7 million. Total revenue for the 2010 third quarter is now expected to be in the range of $109 to $111 million, compared to previously provided guidance of $106 to $108 million. 2010 third quarter non-GAAP EPS is also expected to exceed the top end of the range of the Company's previously provided guidance, which was $0.13 to $0.15. All results should be considered preliminary pending the Company's filing of its quarterly report on Form 10-Q.

Epicor chairman, president and CEO George Klaus commented, "Our very strong software license sales in the third quarter are further evidence that the investments we have been making to capitalize on the expanded opportunities created by our latest products continue to pay dividends. Epicor is selling into more markets than ever before and our superior products are driving market share gains. We are continuing to expand the reach of Epicor 9 and our pipelines are continuing to build as a result."

Epicor is scheduled to release its earnings for its 2010 third quarter ended September 30, 2010, on Thursday, October 28, 2010, after market close. A conference call to discuss the quarter's results is scheduled to begin at 2:00 p.m. Pacific Time, following the earnings release.

What: Epicor 2010 Third Quarter Earnings Conference Call
When: Thursday, October 28, 2010
Time: 2:00 p.m. PT
Dial in: 1-800-437-2398
Conf ID: Epicor 2010 Third Quarter Earnings Call
Webcast: http://ir.epicor.com

Investors and analysts are invited to participate on the call. Please dial in approximately ten minutes prior to start time. A live audio-only webcast of the call will be made available to the public on the Company's Web site under the investor relations section, or directly accessed at http://ir.epicor.com and will be archived following the call on the company's Web site.

About Epicor Software Corporation
Epicor Software is a global leader delivering business software solutions to the manufacturing, distribution, retail, hospitality and services industries. With 20,000 customers in over 150 countries, Epicor provides integrated enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM) and enterprise retail software solutions that enable companies to drive increased efficiency and improve profitability. Founded in 1984, Epicor takes pride in more than 25 years of technology innovation delivering business solutions that provide the scalability and flexibility businesses need to build competitive advantage. Epicor provides a comprehensive range of services with a single point of accountability that promotes rapid return on investment and low total cost of ownership, whether operating business on a local, regional or global scale. The Company's worldwide headquarters are located in Irvine, California with offices and affiliates around the world. For more information, visit www.epicor.com.

Epicor is a registered trademark of Epicor Software Corporation. Other trademarks referenced are the property of their respective owners. The product and service offerings depicted in this document are produced by Epicor Software Corporation.

Forward-Looking Statements
This press release contains certain statements which constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected revenues (including growth rates), earnings and earnings per share (including on a non-GAAP basis, the Company's products, market share, business model, sales pipelines and opportunities, competitive advantage and other statements that are not historical fact. These forward-looking statements are based on currently available competitive, financial and economic data together with management's views and assumptions regarding future events and business performance as of the time the statements are made and are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements.

Such risks and uncertainties include, but are not limited to, changes in the demand for enterprise resource planning products, particularly in light of competitive offerings; the timely availability and market acceptance of new products and upgrades, including Epicor 9; the impact of competitive products and pricing; the discovery of undetected software errors; changes in the financial condition of Epicor's major commercial customers and Epicor's future ability to continue to develop and expand its product and service offerings to address emerging business demand and technological trends; and other factors discussed in Epicor's annual report on Form 10-K for the year ended December 31, 2009 and other reports Epicor files with the SEC. As a result of these factors the business or prospects expected by the Company as part of this announcement may not occur. Epicor undertakes no obligation to revise or update publicly any forward-looking statements.

Contact Information

  • Contact:
    Damon Wright
    Vice President Investor Relations
    Epicor Software Corporation
    949/585-4509
    dswright@epicor.com