American Software, Inc. recorded a 188% increase in net earnings in its second quarter, despite a 6% year-over-year dip in total revenue.
The business software company, which purchased supply chain software provider Logility during the first quarter, earned $1.4 million on revenue of $18.7 million in the period, ended Oct. 31, 2009. A year ago, the company recorded earnings of $470,000 on revenue of $19.8 million. Last year’s net income total was lowered significantly by interest and other expenses.
On a sequential basis, American Software continued to show improvement. The company posted total revenue of $17.8 million and net earnings of $1.2 million in its first fiscal 2010 quarter.
On a conference call with analysts Thursday, Michael Edenfield, executive vice president of American Software and CEO of Logility, termed it a “good quarter” for American Software, pointing to 16 new customers and signed contracts in nine countries in the quarter. The company reported that this was its 35th consecutive quarter of profitability.