For the first half ended June 30, SmartVault reported revenue of roughly $4.5 million, an increase of 17 percent year-over-year, but up 28 percent in constant currency. 

GetBusy said it will invest incremental revenue from SmartVault into growing that business. The document management system’s primary market is the United States but it has been growing in its newest market, the U.K. Virtual Cabinet, whose primary markets are Australia, New Zealand and the U.K., registered first half revenue of approximately $5.9 million, up 1 percent over last year’s corresponding period, down 1 percent in constant currency.

Total revenue reached about $1.4 million, rising 7 percent over last year’s first half, 10 percent in constant currency.

The company lost slightly more than $1 million, compared to earnings of $1.1 million  last year at current exchange rates. The loss occurred because Virtual Cabinet’s operating income increased by 6 percent while SmartVault’s operating loss grew by 41 percent year-over-year.

Bob Scott

• Email

Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind