Lawson Software posted revenues of $174.7 million in its fiscal first quarter of 2011 ended Aug. 31, a 3.4-percent increase compared with $169 million for the same period last year. GAAP net income improved 60 percent from $6 million in last year’s first quarter to $9.6 million in the recently concluded period.
Non-GAAP net income for the first quarter jumped 17 percent to $18 million, compared to $15.4 million for the year-ago period.
“Strong Q1 performance gives us a good start to our fiscal year,” said Harry Debes, president and CEO. “Our results provide further proof that executing our strategy to grow our business in our strategic markets will continue to drive improvement in our profitability.”
For the fiscal second quarter, Lawson estimates total revenues of $184 million to $189 million.
Lawson Software is a global provider of enterprise software with a growing presence in the rental industry. Its U.S. headquarters are in St. Paul, Minn.