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Great Plains beats 2Q forecasts

Great Plains Software (Nasdaq: GPSI) topped analyst consensus by a penny in the second quarter.

After market close Monday, the vendor of business software and related services reported second quarter net income of $4.2 million, or 20 cents per share, excluding amortization. First Call's survey of four analysts predicted a profit of 19 cents per share for the quarter ended Nov. 30.

Including amortization, Great Plains lost $10.5 million, or 52 cents per share.

Second quarter revenue increased 59 percent year-over-year and 13 percent sequentially to $75.5 million. Services revenue doubled year-over-year.

"In our second quarter, we continued our solid growth and performance, fueling our leadership position in the growing and strategic business applications market," said Doug Burgum, chairman and CEO.

Shares of Great Plains fell 4.9375 to 46.75 in Monday's regular trading ahead of the earnings report.>