2004 News

A Lesson Learned is a Lesson Shared - Thursday, July 01, 2004

Greg Wilkinson is someone who knows only too well the challenges that each day face micro business in Australia.

It was 16 years ago that, from the second bedroom of his Rose Bay unit, he and Phil Hayman started what was then a two-man business called Reckon Software.
The fledging company was funded by the $2000 credit limit on a visa card that belonged to Phil and a loan against an old Commodore that Greg had purchased with the last of his cash after he arrived in Australia. Read more... 

Reckon on Song to Lift Profit - Wednesday, June 16, 2004

Reckon Limited has lifted its profit forecast for the year ending December 31, 2004 to between $8 million and $8.5 million in an upgrade yesterday that was widely anticipated by shareholders.

The company, which sells Quicken accounting software, forecast improvements in March of between 40 per cent and 50 per cent on its 2003 $5.34 million net profit equating to profits of between $7.4 million and $8 million but also indicated these figures were conservative. Read more... 

Cashed Up Reckon Pays $4m - Wednesday, May 26, 2004

A $4.1 million windfall is in the bag for Reckon shareholders, who overwhelmingly approved a 3-cent-a-share return of capital at the company’s annual meeting yesterday.

The payment is linked to the strong cash position of the company behind the Quicken software brand in Australia. Reckon will still have $9.6 million after the payment, which will probably be made in mid-July. Read more... 

Reckon a Winner since MYOB’s Sol 6 Bid - Wednesday, April 07, 2004

Accounting software group Reckon is already winning top accounting customers from Solution 6 in the nine days since MYOB announced its scrip-based takeover.

“Top 100 accounting firms have in the last week come to us and said that they had chosen us as their preferred supplier,” says Reckon chief executive Greg Wilkinson.

While most widely known for selling the Quicken range of accounting software for personal and small business accounting, Reckon also competes directly with Solution 6 in the provision of practice-management software to top 100 accounting firms. Read more...

 

Reckon Moves into Rivals Territory - Thursday, April 01, 2004

Accounting software company Reckon is apply new pressure on key rival MYOB in the battle for sales among Australian small business and accounting firms, just as MYOB works on a $435 million acquisition of Solution 6.

Reckon intends to launch its first software product for small and medium accounting firms in two weeks, moving into a market already claimed by MYOB and Solution 6 and central to the strategy to combine the two companies. Read more...

 

Small-Cap Technology Companies Attract Interest - Monday, March 22, 2004

Fund managers Paradice Cooper and Wilson Asset Management appeared on the share registers of two small-cap technology companies last week.

Paradice upped its stake in post production house and compact disc manufacturer AAV to 6.48 per cent.

And Wilson became a substantial shareholder in financial software company Reckon, buying 1.8 million shares for about $1.5 million to bring its stake to 6.04 per cent. Read more... 

Two Can Play - Thursday, March 11, 2004

The accounting software company Reckon is preparing to break into the market for practice-management software for accounting firms that have up to 15 employees. With Advanced Professional Solutions (APS), the software developer it bought on January 1, Reckon will be taking on the dominant company in this market, Solution 6. Reckon, which is the parent company of Quicken Australia, is the Asia-Pacific distributor of the American accounting software series QuickBooks, which caters mostly for small business. The APS software is used by 60 of Australia’s largest accounting practices. Read more... 

Reckon Quickens the Pace on Growth - Friday, March 05, 2004

Thanks to its latest acquisition, financial software company Reckon is poised for revenue growth of up to 60 per cent this year and has announced plans to share the spoils with shareholders in a 3-cent a share return of capital.

The news sent the stock soaring by 7 per cent to 90 cents yesterday, providing yet another boost for investors, whose share have more than tripled in value since June. Read more...