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by Alan Alper, MA Editorial Staff Posted on Wednesday, November 22, 2006 4:00:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Fiscal third-quarter earnings at the mid-tier ERP vendor decline due to higher R&D and sales and marketing expenses; overall revenues rise, spurred by strong performance in services business, although license revenues come in below plan |
| Keywords: | QAD, GXE, MFGPro, .NET, third quarter, earnings results, mid-market ERP, enterprise resource planning |
Higher expenses and lower-than-expected license revenue conspired to drag down fiscal third-quarter earnings at mid-tier ERP vendor QAD Inc. For the period ended October 31, the company's net earnings were $900,000, or 3 cents per diluted share, compared with $2.7 million, or 8 cents per diluted share, in the like quarter last year. This year's third quarter included pre-tax stock compensation expenses of $1.3 million, while the comparable period last year benefited from a $500,000 insurance settlement, the company said. Moreover, the recently completed quarter was marked by higher development as well as sales and marketing expenses, QAD's CFO Daniel Lender told financial analysts during a conference call yesterday. Overall operating costs increased to $32.9 million from $27.5 million in the like period last year, although they were down sequentially from the $34.2 million registered in the previous quarter. [Click to continue] |
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