Shares of Irvine-based Epicor Software Corp. jumped 20% Tuesday after the company reported second-quarter results that beat expectations and raised its 2005 forecast.
The Irvine-based business software maker posted net income of $12.8 million in the quarter, up from $8 million a year ago and slightly higher than Wall Street forecasts. Sales jumped 46% to $71 million in the period.
Epicor’s software culls data from production, distribution and accounting operations for use in sales, marketing and customer support. The company sells software to small and midsize businesses.
The company said its software services revenue was up 44% to $51 million in the quarter compared to $35.6 million in the second quarter of 2004.
“We are delighted to report solid results and growth rates exceeding our goals and representing the strongest second quarter revenues in our history,” said George Klaus, chief executive of Epicor. “Looking ahead to the second half of the year we are raising both our revenue and earnings guidance reflecting our continued confidence in strong execution plus demand for our products.”
Epicor now expects profit of about $47.5 million on sales of $280 million this year.
