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by Alan Alper, MA Editorial Staff Posted on Friday, August 18, 2006 5:39:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Revenues edge up slightly in second fiscal period as new license revenue and net profits fall; says .NET interface for its GXE suite and other new products are contributing to a growing sales funnel. |
| Keywords: | QAD fiscal second quarter results, ERP consolidation, mid-market ERP software |
QAD Inc. yesterday posted fiscal second-quarter results that showed continued shrinkage in profit and new license revenues, but the mid-tier ERP software vendor told analysts that its growth prospects are improving with the advent of a new .NET interface that substantially improves application usability amid growing demand for its products in North America and the Asia-Pacific region. For the period ended July 31, QAD posted revenue of $58.4 million, up only $400,000 from the year-earlier period. The results, however, slightly exceeded guidance the Carpinteria, CA, company provided earlier in the fiscal year. Net income in the second quarter was $1.1 million, or three cents per diluted share (including stock compensation and tax expenses), a figure that was impacted by the company's continued investment in offshore R&D activities. QAD earned $3.8 million, or 12 cents per diluted share, in the year-earlier period. More worrisome for QAD was its continued decline in license revenue, which totaled $13.5 million in the quarter, off $2.8 million from the like period last year. QAD company officials told analysts during a conference call to discuss the fiscal Q2 performance that the year-earlier period benefited from a $4 million contract signed with a Japanese automotive parts supplier, which at the time appeared to signal that the ERP vendor was poised to resume growth after an extended period of stagnation. [Click to continue] |
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