Amdocs slumps into red despite revenues rising by 14%

US software company Amdocs slumped into the red last year in spite of revenues increasing by 14% to $904 million (€655.4m).

Figures returned by the Dublin-based Amdocs Software Systems (ASSL) show that the company recorded a pre-tax loss of $39.8m compared to a pre-tax profit of $20.1m in 2009.

The chief factor behind the loss was a $47.9m impairment in goodwill connected with the purchase of Changing Worlds as Amdocs state that it is envisaged that the newly acquired company will not trade profitably in the foreseeable future.