Infor Announces Strong Third Quarter Results
Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced strong results for the third quarter of its fiscal 2016, ended January 31, 2016. Total revenues increased 2 percent at actual currency rates and 7 percent in constant currency1 compared to Q3 in fiscal 2015, with software license fees and subscriptions revenues up 23 percent at actual currency rates and 27 percent in constant currency over the same period. Non-GAAP total revenues2 increased 3 percent at actual currency rates and 7 percent in constant currency compared to Q3 in fiscal 2015, with non-GAAP software license fees and subscriptions revenues2 up 28 percent at actual currency rates and 32 percent in constant currency over the same period. Infor also experienced strong growth for Infor Consulting Services (ICS). Infor added more than 600 new customers in the quarter.
"Q3 was another strong quarter for Infor with ongoing growth in our business as we continue to set the standard for successfully transitioning to a cloud business model," said Charles Phillips, CEO of Infor. "Infor's investments in product, brand building, consulting services enablement, and salesforce coverage continue to pay off as reflected in our new sales deal pipeline which, propelled by SaaS, is at the highest levels in company history as we enter our fourth quarter."
The Retail and Healthcare verticals each continue to grow with strong performance in the quarter supported by high SaaS bookings growth in Financial Services and GT Nexus, which saw the best performance in SaaS bookings in its history this quarter, the first full quarter after GT Nexus was acquired by Infor in September 2015.
Infor also announced a $25 million investment in retail analytics provider Predictix in Q3, continuing the company's push to deliver much-needed innovation to an industry facing continued disruption. As part of the agreement, Infor will become a reseller of Predictix, deploying, managing and supporting the applications in the Infor cloud, and will infuse Predictix into development of Infor CloudSuite Retail, a new modern suite of enterprise applications delivered in the cloud and designed for today's retailing landscape.
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