There is an increase in profits of Irvine-based Epicor Software Corp. in its third-quarter exceeding from $5.5 million to $ 6.1 million range. The firm is yet to declare the date for the release of its earnings but it is forecast to range between $ 96 million to $100 million.

The firm is a well known Enterprise Resource Planning software maker, which are beneficial for retailers and manufactures to manage their accounting and other back office jobs. The company had generated revenue of $138 million in the previous year. This amount was inclusive of revenue from sale of computer products which are not the core products of the business. The shares were closed at 15% with its market value of $ 450 million.

Epicor has also revised the terms of 2007 credit line which is forecasting to continue to make interest payments. As per the new credit line, the size has been cut down to $100 million from $200 million and the life is reduced by five months. The rate of interest of the line of credit is increased to 2.25% from 2%. The new terms are agreed between Epicor and its lenders related to lowering down the profitability and to increase the availability of cash and other liquidities.

This entry was posted on Thursday, October 8th, 2009 at 11:35 am and is filed under Venture Capital Funding, Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.