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by Diane Himes, MA Editorial Staff Posted on Monday, May 21, 2007 5:15:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The mid-market ERP provider sees an increase in total revenue from maintenance and services, but struggles with license revenue on the way to a net loss. |
| Keywords: | QAD, first quarter results, first quarter fiscal 2008, mid-market ERP, on demand ERP, Karl Lopker, manufacturing software, QAD license revenue |
For the first quarter of its fiscal year 2008, mid-market enterprise applications vendor QAD Inc. late last week reported that total revenue increased 6% to $56.6 million, compared with $53.4 million in the comparable period a year ago. License revenue, however, came in at $10.2 million, below the company's expectation and nearly flat compared with the same period in fiscal 2007. Meanwhile, higher operating expenses swung the company's income from $1.4 million in the first quarter of 2007 to a loss of $1.9 million. "The first quarter was a bit rough, although we don't see any fundamental weakness in the market or in our strategy," said Karl Lopker, QAD's chief executive, on a conference call with analysts. Maintenance and other revenue in the quarter, ended April 30, totaled $31 million, compared with $30.2 million in the first quarter of fiscal 2007. Services revenue contributed $15.4 million in the quarter, up 19% from last year's $12.9 million. [Click to continue] |
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