American Software, Inc. (AMSWA) has reported a 201.76 percent jump in profit for the quarter ended Apr. 30, 2017. The company has earned $10.28 million, or $0.34 a share in the quarter, compared with $3.41 million, or $0.12 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $2.71 million, or $0.09 a share compared with $3.29 million or $0.11 a share, a year ago.
Revenue during the quarter dropped 9.01 percent to $26.27 million from $28.87 million in the previous year period. Gross margin for the quarter contracted 28 basis points over the previous year period to 54.60 percent. Total expenses were 88.75 percent of quarterly revenues, up from 86.63 percent for the same period last year. That has resulted in a contraction of 212 basis points in operating margin to 11.25 percent.
Operating income for the quarter was $2.96 million, compared with $3.86 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $4.87 million compared with $5.66 million in the prior year period. At the same time, adjusted EBITDA margin contracted 108 basis points in the quarter to 18.54 percent from 19.62 percent in the last year period.
"We saw improving market conditions for supply chain and planning investments during the fourth quarter of fiscal year 2017 which included an increase in customers selecting SaaS subscriptions as a preferred engagement model. As a result of more customers leveraging our SaaS and Cloud Services offerings, we are pleased to report a significant 59% increase in Cloud Services Annual Contract Value (ACV) when compared to the same quarter in the prior year," said Allan Dow, president of American Software.
Operating cash flow improvesAmerican Software, Inc. has generated cash of $19.78 million from operating activities during the year, up 8.14 percent or $1.49 million, when compared with the last year. Cash flow from investing activities was $4.24 million from investing activities during the year as against cash outgo of $3.90 million in the last year.
The company has spent $7.02 million cash to carry out financing activities during the year as against cash outgo of $10.04 million in the last year period.
Cash and cash equivalents stood at $66 million as on Apr. 30, 2017, up 34.68 percent or $17 million from $49 million on Apr. 30, 2016.
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