Home / Knowledge / News / Information Technology / American Software Q2 FY'14 sales up 3%
American Software Q2 FY'14 sales up 3%
04
Dec '13
American Software, Inc. reported preliminary financial results for the second quarter of fiscal 2014. The Company has delivered 51 consecutive quarters of profitability.

“With the continued volatility in the global economy, businesses are looking to increase visibility, lower operating costs and respond quickly to dynamic market conditions”

Key second quarter financial metrics:

Total revenues for the quarter ended October 31, 2013 were $26.9 million, an increase of 3% over the comparable period last year. The Company booked an additional $3.0 million in revenues that will be recognized over an approximately three-year period.

Software license fee revenues for the quarter ended October 31, 2013 were $6.2 million, an increase of 13% over the same period last year. The Company booked an additional $1.1 million that will be recognized over an approximately three-year period.

Services and other revenues for the quarter ended October 31, 2013 were $11.7 million compared to $12.3 million for the same period last year, a decrease of 5%.

Maintenance revenues for the quarter ended October 31, 2013 were $9.1 million compared to $8.4 million, an increase of 7% over the same period last year.

Operating earnings for the quarter ended October 31, 2013 were $5.4 million, an increase of 27% compared to the same period last year.

GAAP net earnings for the quarter ended October 31, 2013 were $3.7 million or $0.13 per fully diluted share, an increase of 30% over the same period last year.

Adjusted net earnings for the quarter ended October 31, 2013, which excludes stock-based compensation expense and amortization of acquisition-related intangibles, were $4.0 million or $0.14 per fully diluted share compared to $3.1 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 $6.2 million for the quarter ended October 31, 2013 compared to $5.7 million for the quarter ended October 31, 2012. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income & other, net, income tax expense, stock-based compensation, and other significant non-routine operating and non-operating income and expense items, if applicable.

Key fiscal 2014 year to date financial highlights:

Total revenues for the six months ended October 31, 2013 were $50.2 million, a 4% decrease over the comparable period last year. The Company booked an additional $3.2 million in revenues that will be recognized over an approximately three-year period.

Software license fees for the six-month period were $9.4 million, an 11% decrease compared to the same period last year. The Company booked an additional $1.1 million that will be recognized over an approximately three-year period.

Services and other revenues were $22.9 million, an 8% decrease compared to the same period last year.

Maintenance revenues were $17.9 million, a 7% increase over the comparable period last year.

For the six months ended October 31, 2013, the Company reported operating earnings of approximately $7.8 million, a 2% decrease over the same period last year.

Click here to read full results

American Software

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search