Roxar software profit

Stavanger-based Roxar’s second quarter financials show turn around in fortunes of software and services division.

Norwegian software and service company Roxar generated earnings before tax of NOK 0.4.million for 2Q 2000 compared to a loss of 6.4 million for the same period in 1999. Total revenue for the quarter was 99 million NOK, against 104 million for the same period in 1999. The slight reduction in revenues reflects last year’s restructuring of the services business with reduced involvement in general consulting activity.

Software & Services

Software and Services turned profitable as sales picked up towards the end of the quarter, following a good reception of the RMS 6.0 suite. The margins for consulting services improved as a major part of these are now software-based. Roxar’s operating loss for the period was 400 thousand NOK compared to a 6.8 million loss for the same period in 1999, which included 7.3 million of merger costs.

Click here to comment on this article

Click here to view this article in context on a desktop

© Oil IT Journal - all rights reserved.