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by Chris Chiappinelli, MA Editorial Staff
Posted on Friday, August 22, 2008 2:32:41 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Although the enterprise software provider manages overall revenue growth, license sales dip in the quarter as prospective customers grow timid. |
| Keywords: | QAD financials, QAD revenue, QAD Q2 |
A strong increase in service revenue couldn’t mask QAD’s struggles against the flagging economy in its second quarter, the manufacturing ERP specialist’s balance sheet revealed on Thursday.
Riding the benefits of currency fluctuations that accounted for half of its top-line growth, QAD reported an 8% jump in total revenue to $69.5 million for the second quarter of fiscal 2009, which ended July 31. A pillar of that growth was the company’s services offerings, which garnered $23.6 million, 34% higher than the year-earlier $17.6 million. Maintenance sales managed an 8% jump to $34.5 million, but license revenue acted as a counterweight, dropping 23% to $11.4 million from $14.8 million in the like period last year.
The slump contributed to a $1.4 million net loss for QAD, which in the year-earlier period recorded income of $544,000.
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