Supply chain software provider Logility Inc. today reported fiscal fourth quarter results that owed much to current economic conditions. Still, despite a revenue dip of 7% in the quarter, the company managed a double-digit increase in net earnings, and said it maintains healthy cash reserves.
For the three months ended April 30, 2009, Logility reported revenue of $11.1 million, 7% less than the $11.9 million it took in a year earlier. All of Logility’s business lines were off in the quarter, with license revenue down 7% to $3.9 million and “services and other” revenue down 14% to $1.6 million. Maintenance sales, the company’s biggest contributor, fell 4% to $5.7 million.
Net earnings, meanwhile, jumped 14% to $1.9 million for the quarter. For the year, earnings inched down 2% to $5.9 million on revenue of $41.6 million, a 7% decrease. Software license fees and services dropped 12% and 26% respectively year-over-year, while maintenance revenue eked out a 2% gain.
Logility’s overall financial condition remains strong, noted president and CEO Michael Edenfield during a conference call with analysts today. The company has $49.6 million in cash and investments, a $6.9 million increase compared to fiscal 2008. In addition, the company, which maintains two product brands, including Demand Solutions and Logility Voyager, signed agreements with 68 new customers in 21 countries during the fiscal year.