Press release: 2008 Annual Report, Maconomy continues growth
27-02-2009
Boston, February 27, 2009 - Maconomy, the international supplier of industry-specific ERP solutions for Professional Services Organizations (PSO), continued its growth in 2008. The financial results for the fiscal year 2008 were revealed today, showing a revenue increase of from 38.0 million USD in 2007 to 39.4 million USD in 2008. Additionally, earnings before depreciation (EBITDA) increased by 27 percent.
“Overall, 2008 has been challenging but also satisfying for Maconomy. In a global market where decision-makers hesitate and exchange rates are falling, we have been able to create progress on both top and bottom line by landing new strategic customers and continuously keeping an eye on costs. Most of our international markets show strong growth rates, and we are very proud of that,” says CEO Hugo Dorph, Maconomy.
Double-digit growth in the US
With license growth of 22% Maconomy US experienced first-hand how Professional Services Organizations continually look to Maconomy for solutions that will optimize their operations in the face of the global financial crisis.
“In these challenging financial times there is an increased focus on client profitability, project profitability and utilization rates among Professional Services Organizations. In the US market we are happy to be able to offer strong solutions to our customers within this segment, which will help the companies strengthen their internal systems and procedures,” says Steen Andersen, President, Maconomy US.
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