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by Chris Chiappinelli, MA Editorial Staff
Posted on Friday, September 05, 2008 3:26:50 PM Sign Up to receive Daily News Alerts in your E-mail Inbox   | Abstract: | The supply chain software purveyor logs a 22% fall in revenue and sees earnings shrink, but says new customer wins and strong cash flow gird it for future quarters. |
Fiscal 2009 began with a whimper for supply chain management software provider Logility, as first-quarter revenue declined 22% and license sales dropped 57% year over year.
For the quarter ended July 31, 2008, total revenue was $9.4 million, down from nearly $12 million in the year-earlier period. License revenue dropped precipitously to $2 million from $4.7 million in the first quarter of fiscal 2008.
The bottom line suffered a similar fate, as even a 3% reduction in expenses couldn’t save Logility from a shrunken income. GAAP net earnings totaled $694,000, down 67% from $1.85 million.
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