Platinum Software Reports Quarterly Income of $2 Million

Accounting software provider Platinum Software Corp. posted net income of $2 million, or 7 cents a share, for the second quarter ended Dec. 31, which included $800,000 in costs associated with the acquisition of FocusSoft Inc. For the second quarter a year ago, the company reported a net loss of $581,000, or 3 cents a share. Revenue rose 52% to $21.7 million from $14.3 million. First half net income totaled $3.3 million, or 11 cents a share, contrasted with a net loss of $2.7 million, or 12 cents a share, for the same period a year earlier. Revenue was up 51% to $39.9 million from $26.4 million.