American Software Has Delivered 52 Consecutive Quarters of Profitability

American Software, Inc. reported preliminary financial results for the third quarter of fiscal 2014. The Company has delivered 52 consecutive quarters of profitability.

“We believe companies are beginning to invest more strategically as they strive to better manage supply chain business processes across their increasingly complex global networks. This translates into competitive evaluations that span a broader footprint of our software and services solutions including cloud and managed services”

Key third quarter financial metrics:
-Total revenues for the quarter ended January 31, 2014 were $24.4 million, an increase of 6% over the comparable period last year.
-Software license fee revenues for the quarter ended January 31, 2014 were $5.0 million, an increase of 2% over the same period last year.
-Services and other revenues for the quarter ended January 31, 2014 increased 6% to $10.2 million compared to $9.6 million for the same period last year.
-Maintenance revenues for the quarter ended January 31, 2014 were $9.3 million compared to $8.6 million, an increase of 8% over the same period last year.
-Operating earnings for the quarter ended January 31, 2014 were $3.5 million, an increase of 54% compared to the same period last year.
-GAAP net earnings for the quarter ended January 31, 2014 were $2.5 million or $0.09 per fully diluted share, an increase of 16% over the same period last year.
-Adjusted net earnings for the quarter ended January 31, 2014, which excludes stock-based compensation expense and amortization of acquisition-related intangibles, were $2.8 million or $0.10 per fully diluted share compared to $2.5 million or $0.09 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 $4.4 million for the quarter ended January 31, 2014 compared to $3.7 million for the quarter ended January 31, 2013. 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.