Baan Reports Record Revenue and Earnings
Baan (Menlo Park, CA) reports Q4 '97 financial results. Revenue of $220 million represent a 65% increase over Q4 '96 revenue. A net income of $29.1 million compares with a Q4 '96 net income of $16.6 million. For the year, Baan reports revenue of $684 million and a net income of $77.2 million compares with YE '96 figures of $415.5 million and $36.6 million, respectively. North American revenues, up 74% from 1997, comprised 42% of total revenues. During the quarter Baan signed a deal with Aspect Development (Mountain View, CA) to integrate Aspect's component and supplier management solution into Baan's ERP product. Baan also released SYNC, a planning and scheduling solution to be integrated with enterprise business applications. "Our strategic goal in 1997 was to expand our footprint into and beyond the ERP space," said president and COO Tom Tinsley. "Through buying, building and partnering, we broadened our capabilities and reach beyond traditional ERP and now provide integrated solutions across the extended value chain."