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July 2011 | Adam Leach
providers Ariba and Hubwoo had contrasting
performances in terms of revenue over the past three months, according to
financial statements published by both firms.
revenue at Ariba rose to $121.9 million (£74.4 million), compared with $83 million (50.6 million) during the
same period in 2010. This increase was mostly caused by a 74 per cent rise in
revenue from software subscriptions to $76.4 million (£46.5 million) - up from
$44 million (£26.8 million) in 2010 - and an increase in money from its
supplier network, which increased to $37.5 million ($22.8 million).
attributed the improved performance to investment in sales and marketing and
the company’s acquisition of Quadrem, which the company bought for $150 million
at the end of 2010. This has allowed Ariba to sell in new markets.
total revenue at Hubwoo fell by 3 per cent compared to the corresponding three
months of last year. The company made €8.8 million (£7.7 million), slightly
down on the comparable figure of €9.1 million the company made in 2010.
However, revenue for the first half of the financial year was actually up by
€100,000 overall compared to last year.
blamed the slow rate of new orders in Europe and the Americas, and contract
delays with customers that reduced sales. In response the company has
renegotiated existing contracts to take account of current economic
was reporting financial results for the company’s third quarter, and Hubwoo for
the second quarter.