Home / Knowledge / News / Information Technology / American Software achieves 35 consecutive quarters of profitability

American Software achieves 35 consecutive quarters of profitability

08
Dec '09
American Software, Inc. reported financial results for the second quarter of fiscal year 2010, achieving 35 consecutive quarters of profitability.

The overall financial condition of the Company remains strong, with no debt and with cash and investments of approximately $56.4 million as of October 31, 2009. This is approximately a $14.7 million decrease when compared to April 30, 2009 and was primarily due to the payment of $12.8 million for the shares of Logility not owned by American Software plus other expenses associated with the Logility tender offer.

"The Company delivered its 35th consecutive quarter of profitability and increased net earnings by 188% over the same period last year," stated James C. Edenfield, president and CEO of American Software. "Despite the difficult global economy, we added 16 new customers and signed license agreements with customers in 9 countries during the quarter," said Edenfield. "The increased visibility, discipline and efficiency provided by our portfolio of application solutions enable manufacturing, wholesale and specialty retail enterprises the opportunity to significantly improve cash flow, reduce inventory, increase supply chain responsiveness and accelerate the sales and operations planning process," continued Edenfield. "As a result, our solutions drive value for our customers in both good and bad economies."

"Our sustained profitability has continued to allow the Company to provide a tangible benefit to our shareholders with a quarterly dividend as well as a share repurchase program," stated Edenfield. "On November 17, 2009 our Board of Directors authorized the Company's next quarterly dividend of $0.09 per common share, which is payable on March 5, 2010 to shareholders of record at the close of business on February 19, 2010. During the first half of the current fiscal year, the Company has distributed approximately $4.6 million in dividends to shareholders. "

Click here for more details.

American Software Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 4th Apr 2020

Textile-garment, retail sectors bear enduring pandemic

Extended store closures, many factories halting operations due to...

Pic: Kristi Blokhin / Shutterstock.com

Textiles | On 4th Apr 2020

World Bank Group launches 1st operations for COVID-19

The World Bank’s board of executive directors yesterday approved a...

Pic: Shutterstock

Apparel/Garments | On 4th Apr 2020

Haiti making masks to fight COVID-19 pandemic

To keep its textile industry afloat amid the economic shutdown...

Interviews View All

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Devendra Gupta,

Devendra Gupta

Reforce, a start-up based in Gurgaon, aims to revolutionise the fitness...

Priyanka Gandhi,

Priyanka Gandhi

Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

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

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

Leave your Comments


March 2020

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


Advanced Search