software companies -- and became somewhat of an unfocused mess.
Lately, much of GEAC's more recent earnings growth appears to have come from cost cutting; nobody's sure where any real growth in the future will emanate. Cost cutting tightens a company and improves operating leverage; but it will only take a floundering company so far. GEAC's product niche sounds reasonable: It's sort of an operations and/or finance approach to what Seibel does with sales/customer service. There are multiple levels of product, so GEAC can go back and re-sell to existing customers, which could be a positive if management plays it right.