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by Stephanie Neil, MA Editorial Staff
Posted on Wednesday, November 26, 2008 3:53:37 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The manufacturing-focused ERP provider reports a slight increase in sales but swings to a loss, as customers hunker down and defer purchases. |
| Keywords: | QAD quarter, QAS sales, QAD revenue |
ERP software purveyor QAD Inc. on Tuesday reported a sizeable loss in its fiscal 2009 third quarter, and only a slight rise in revenue, all of which executives blame on the economic climate and the negative impact of foreign currency rates.
For the quarter ended Oct. 31st, QAD reported a net loss of $1.8 million, or $0.06 per share on revenue of $67.8 million. While revenue was up 2% over the $66.6 million reported in the fiscal 2008 third quarter, the loss stood in marked contrast to net income of $1.5 million reported in last year’s quarter.
Foreign currency negatively impacted QAD’s revenue by approximately $600,000, officials said. Operating expenses of $37. 1 million — a slight increase over $35.5 million in last year’s third quarter — reflected higher personnel costs and additional expense related to acquisitions, the company said.
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