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by Alan Alper, MA Editorial Staff Posted on Thursday, May 18, 2006 7:35:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    Still smarting from a compressed sales funnel and protracted turbulence in its key automotive sector, QAD Inc. today reported "disappointing" first-quarter results caused by continuing softness in new license revenue, although the company maintained its guidance for the fiscal year. For the first quarter ended April 30, the mid-market enterprise applications vendor posted revenues of $53.4 million compared with $56.0 million in the like period last year. QAD's top line was off slightly from the estimate of between $54 million and $57 million the Carpinteria, CA, company provided earlier in the year. License revenue for the quarter, meanwhile, was off 26% to $10.3 million from the comparable period last year, the result of a tighter sales funnel that emerged as the company pushed to close business before the close of fiscal 2006, noted QAD CFO Daniel Lender in a conference call with financial analysts. [Click to continue] |
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