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by Diane Himes, MA Editorial Staff Posted on Friday, May 30, 2008 2:43:17 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | ERP provider logs net loss despite double-digit revenue growth; plans first maintenance rate increase in eight years. |
| Keywords: | ERP provider posts loss, first maintenance rate increase in eight years |
In its first fiscal quarter of 2009, ERP provider QAD reported double-digit growth in revenue across each of its software and services categories, although the company was unable to turn a profit.
In the quarter ended April 30, QAD's total revenue increased 18% to $66.8 million, from $56.6 million in the year-earlier period. Software license revenue also rose 18% to $12.0 million, compared with $10.2 million a year ago. Maintenance and other revenue grew 10%, totaling $34.2 million, up from $31.0 million, and revenue from services increased 34% to $20.7 million, compared with $15.4 million in the like period last year.
The net loss for the quarter was $730,000, an improvement on a net loss of $1.9 million in the comparable period last year.
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