Key third quarter financial highlights:
Total revenues for the quarter ended January 31, 2013 were $23.1 million, a decrease of 9% over the comparable period last year.
Software license fee revenues for the quarter ended January 31, 2013 were $4.9 million, a decrease of 28% over the same period last year.
Services and other revenues for the quarter ended January 31, 2013 were $9.6 million compared to $10.3 million for the same period last year, a decrease of 7%.
Maintenance revenues for the quarter ended January 31, 2013 were $8.6 million compared to $8.3 million, an increase of 3% over the same period last year.
Operating earnings for the quarter ended January 31, 2013 were $2.3 million, a decrease of 30% compared to the same period last year.
GAAP net earnings for the quarter ended January 31, 2013 were $2.1 million or $0.08 per fully diluted share, a decrease of 17% over the same period last year.
Adjusted net earnings for the quarter ended January 31, 2013, which excludes stock-based compensation expense and amortization of acquisition-related intangibles, were $2.5 million or $0.09 per fully diluted share compared to $2.9 million or $0.11 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 $3.7 million in the quarter ended January 31, 2013 compared to $4.7 million in the quarter ended January 31, 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 2013 year to date financial highlights:
Total revenues for the nine months ended January 31, 2013 were $75.3 million, a 1% increase over the comparable period last year.
Software license fees for the nine-month period were $15.5 million, a 24% decrease compared to the same period last year.
Services and other revenues were $34.4 million, a 14% increase compared to the same period last year.
Maintenance revenues were $25.4 million, a 5% increase over the comparable period last year.
For the nine months ended January 31, 2013, the Company reported operating earnings of approximately $10.2 million, a 12% decrease over the same period last year.
GAAP net earnings were approximately $7.3 million or $0.27 per fully diluted share for the nine months ended January 31, 2013, a 7% decrease compared to $7.9 million or $0.29 per fully diluted share for the same period last year.
About American Software, Inc.
Atlanta-based American Software provides demand-driven supply chain management and enterprise software solutions, backed by more than 40 years of industry experience, that drive value for companies regardless of market conditions. Logility, Inc., a wholly-owned subsidiary of American Software, is a leading provider of collaborative solutions to optimize the supply chain.
American Software