Earnings and investments report
By Staff -- Manufacturing Business Technology, 6/1/2003 6:00:00 AM
SSA Global Technologies (SSA GT) reported a $75-million equity investment made by General Atlantic Partners. With an installed base of 10,000-plus customers, SSA GT has expanded its core product line of enterprise resources planning and e-Business solutions via internal development and a series of acquisitions. For the quarter ended January 31, 2003, the vendor reported total revenue of $64 million—an increase of 55 percent over second-quarter fiscal 2002.
Demantra has raised $16 million in Series B funding led by Boston-based equity firm Advent International. Cargill, a Demantra systems user, also invested in the round. Demantra solutions are said to generate demand-based plans that lead to optimized marketing, inventory, and replenishment decisions. The recent funding marks strong business momentum for the vendor, which reported 50-percent growth in year-over-year revenue, and profitability in both the third and fourth quarters of 2002. Demantra also added 28 new customers, bringing the total to more than 130 installations worldwide.
Rockwell Automation reported fiscal 2003 second-quarter net income of $49 million. Last year's second-quarter net income of $61 million included a tax benefit of $18 million. Also reported was a net benefit of $3 million related to discontinued operations. Sales for the second quarter were $1,029 million compared to $958 million in second quarter 2002.
Says Don H. Davis, chairman and CEO, "We are investing in key growth areas such as our Logix and Global Manufacturing Solutions businesses while remaining diligent in maintaining a lean cost structure."
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