Key fourth quarter financial metrics:
Total revenues for the quarter ended April 30, 2013 were $25.2 million, a decrease of 10% over the comparable period last year.
Software license fee revenues for the quarter ended April 30, 2013 were $5.7 million, a decrease of 22% over the same period last year.
Services and other revenues for the quarter ended April 30, 2013 were $11.0 million compared to $12.3 million for the same period last year, a decrease of 11%.
Maintenance revenues for the quarter ended April 30, 2013 were $8.6 million compared to $8.4 million, an increase of 3% over the same period last year.
Operating earnings for the quarter ended April 30, 2013 were $3.5 million, a decrease of 23% compared to the same period last year.
GAAP net earnings for the quarter ended April 30, 2013 were $3.1 million or $0.11 per fully diluted share, a decrease of 12% over the same period last year.
Adjusted net earnings for the quarter ended April 30, 2013, which excludes stock-based compensation expense and amortization of acquisition-related intangibles, were $3.4 million or $0.12 per fully diluted share compared to $3.8 million or $0.14 per fully diluted share for the same period last year, which also excluded stock-based compensation expense and amortization of acquisition-related intangibles.
Adjusted EBITDA was $4.9 million for the quarter ended April 30, 2013 compared to $6.0 million for the quarter ended April 30, 2012. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income, income tax expense, stock-based compensation, and other significant non-routine operating and non-operating income and expense items, if applicable.
Key fiscal year 2013 financial metrics:
Total revenues for the twelve months ended April 30, 2013 were $100.5 million, a 2% decrease over the comparable period last year.
Software license fees for the twelve-month period were $21.2 million, a 24% decrease compared to the same period last year.
Services and other revenues were $45.3 million, a 7% increase compared to the same period last year.
Maintenance revenues were $34.0 million, a 5% increase over the comparable period last year.
For the twelve months ended April 30, 2013, the Company reported operating earnings of approximately $13.8 million, a 15% decrease over the same period last year.
GAAP net earnings were approximately $10.4 million or $0.38 per fully diluted share for the twelve months ended April 30, 2013, a 8% decrease compared to $11.3 million or $0.42 per fully diluted share for the same period last year.
Adjusted net earnings for the twelve months ended April 30, 2013, which excludes stock-based compensation expenses and acquisition-related amortization of intangibles, were $11.7 million or $0.42 per fully diluted share, compared to $12.5 million or $0.46 per fully diluted share for the same period last year, which also excluded stock-based compensation expenses and acquisition-related amortization of intangibles.
American Software