Business software maker
on Thursday reported a rise in third-quarter profit aided by increased sales of services and license fees.
For the quarter ended Feb. 28, Lawson reported revenue of $87.7 million, an increase of 6% from $82.7 million in the year-ago period. The Thomson First Call consensus was for $88.5 million in sales.
The company earned $10 million, or 9 cents a share, compared with $2.8 million, or 3 cents, in the same period last year.
St. Paul, Minn.-based Lawson said third-quarter GAAP net income was augmented by an additional $1.5 million in interest income, the reversal of a $1.4 million tax valuation allowance and the release of $500,000 of tax reserves.
First Call estimates, which may not reflect items in the quarter, were for 7 cents a share. Lawson said that If analysts "adjust their models for all of these items, Lawson exceeded the Thomson First Call consensus third-quarter estimate for the company's EPS performance."
Shares of Lawson were recently off 9 cents to $7.67, in after-hours trade; they closed the regular session up 25 cents to $7.76. The company did not offer guidance.