Technology Briefs - April 12 - 18
The Latest Headlines:
- Cass Reports Increased First-Quarter Profit
- Xata Names Former Velocity Exec. Its New CFO
- Manugistics Reports Fourth-Quarter Loss
- Ceridian Forecasts 1Q Charge on Comdata Contracts
- Xata Names Former Velocity Exec. Its New CFO
Cass Reports Increased First-Quarter Profit
Cass Information Systems Inc., a provider of freight and utility invoice payment services, reported first-quarter net income of $2.8 million or 74 cents a share, up from $1.8 million or 50 cents for the same period last year.Cass said Monday that the results were led by a 31% increase in freight-processing volume and a 9% rise in utility invoicing.
he company said that a growing customer base, helped by the August acquisition Profitlab Inc. also contributed to its payment-processing growth. Transport Topics
Xata Names Former Velocity Exec. Its New CFO
Fleet-services technology provider XATA Corp. said Monday it named Mark Ties its new chief financial officer.Ties brings more than 18 years of financial experience to his role, XATA said, including four years as CFO of package-delivery firm Velocity Express Corp.
At Velocity, Ties was a member of the company's executive team and was responsible for its financial activities, Xata said in a statement.
Velocity is ranked No. 60 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
Xata’s former CFO, John Lewis, left the company in late December, becoming chief executive officer of GeoLogic Solutions Inc. Transport Topics
Manugistics Reports Fourth-Quarter Loss
Supply chain management Manugistics Group Inc. reported a loss for its fourth quarter ended Feb. 28 of $17.2 million or 21 cents a share, compared to a net loss of $57.5 million or 74 cents a year earlier.The company said in a statement that its revenue of $45.2 million was down 22% from prior year quarter. Its software revenue of $8.1 million was down 57% from the previous fourth quarter.
Manugistics said it closed 12 software license transactions of $100,000 or greater in the quarter, including two of $1 million or greater.
It said 60% of its software revenue came from new clients and that 21% came from international sales. Transport Topics
Ceridian Forecasts 1Q Charge on Comdata Contracts
Comdata parent Ceridian Corp. Tuesday reported it earned $11 million or 7 cents a share for the fourth quarter, below its previously issued guidance.The information-services company said it would record a first-quarter charge of about $7.5 million related to derivatives on Comdata’s fuel contracts.
Comdata, which provides fuel pricing services to the transportation industry, had fourth-quarter revenue of $92 million, exceeding expectations, Ceridian said in a statement.
Comdata benefited on strength in its core transportation market and increased signings in the gasoline fleet market, Ceridian said. Transport Topics
