Operating income for the second quarter of fiscal 2014 was $1.5 million,
which included $1.6 million in stock compensation expense. For the
second quarter of fiscal 2013, operating income was $1.6 million,
including $1.4 million in stock compensation expense.
Received orders from 18 customers representing more than $500,000 each
in combined license, maintenance, subscription and professional
services billings, including five orders in excess of $1.0 million;
Received license or On Demand orders from companies across QAD’s six
vertical markets, including: Asteelflash Group SA, Autoliv Asia
Management, General Mills India, Pvt. Ltd., Hewlett-Packard Company,
JW Measurement Company, KYB, Reed-Lane, Inc., Saint Gobain, Sharp
Corporation, Sunrise Medical Limited, TS Tech Americas Inc., VION ICT
Services Ltd., and Xomox International;
Enhanced the quality control and traceability frameworks in QAD
Enterprise Applications to make it easier for life sciences
manufacturers to ensure drug authenticity, product safety and quality
control including support of the Federal Drug Administration’s new
regulations regarding unique device identification (UDI);
Delivered a collaborative support portal for QAD’s demand and supply
chain planning solutions to help customers synchronize, view, analyze,
simulate, and understand all supply chain data across all users; and,
Earned a top “Logistics IT Provider” spot from Inbound Logistics
magazine for the second consecutive year for its Precision Software
For the first six months of fiscal 2014, total revenue rose to $127.1
million, up from $124.7 million for the first six months of fiscal 2013.
The company reported breakeven performance for the fiscal 2014
year-to-date period. Net income for the fiscal 2013 year-to-date period
was $2.8 million, or $0.18 per diluted Class A share and $0.15 per
diluted Class B share.
During the fiscal 2014 second quarter, QAD paid quarterly dividends
totaling $2.2 million in cash.
QAD’s cash and equivalents balance increased to $69.4 million at July
31, 2013, from $65.0 million at January 31, 2013. Cash provided by
operations for the first six months of fiscal 2014 was $13.1 million,
compared with $11.4 million for the first six months of fiscal 2013.
2014 Second Quarter Highlights:
For the third quarter of fiscal 2014, QAD anticipates total revenue of
approximately $65 million and earnings of approximately $0.07 per
diluted Class A share and $0.06 per diluted Class B share.