Epicor Software’s Losses Widen Despite Sales Surge

Epicor Software Corp., an Irvine provider of management software, posted larger than expected losses for the fourth quarter while revenues surged.

The company said it lost $41.6 million, or $1.02 a share, for the three months, compared with a loss of $6.8 million, or 24 cents a share, a year earlier. The most recent figure included $19 million in charges for items such as writing down assets and reducing the work force and facilities.

The company had estimated at the end of the year that its quarterly losses could total 68 to 73 cents a share, largely from the charges. But higher expenses on product development, salaries, sales and marketing services drove the losses even higher, executives said Wednesday.

Revenue climbed about 88% to $62.7 million

For the year, the company lost $48.8 million, or $1.20 a share, compared with a profit of nearly $8 million, or 76 cents a share, in 1998. Revenue more than doubled to $258.2 million.