Inside ASI-AP

The March 2008 financials have been published - and thus also the first quarter (Q1) results. The budgets are now loaded into Great Plains so we have our first actual to budget results available.

The quarter has been very strong in AP with revenue growth in all areas. Total revenue was up 8% on budget and very significantly 22% up on first quarter of last year. AP EBITDA is ahead of the budget by $320k and ahead of last year by $330k - both better than forecasted increases.

Globally the first quarter financials have also been positive - just under budget for total revenue and 6% up on last year; EBITDA is ahead of budget.

Our new business sales pipeline continues to be healthy and we forecast another good quarter in Q2 for new business sales. The consulting schedule is almost at maximum capacity and that will maintain our consulting revenues ahead of budget through Q2. We have some challenges in selling new modules and extra user licenses to existing customers mainly because of customers delaying some of those decisions until they upgrade to iMIS 15. And we continue to face challenges in the scheduling and resourcing of consulting services - already this is starting to cause some customer satisfaction issues and getting on top of that is getting plenty of my time at the moment.