American Software delivers 51st consecutive profitable quarter

American Software, Inc. (NASDAQ: AMSWA) reported preliminary financial results for the second quarter of fiscal 2014. The company has delivered 51 consecutive quarters of profitability.

Total revenues for the quarter ended October 31, 2013 were USD26.9m, an increase of three percent over the comparable period last year. The company booked an additional USD3.0m in revenues that will be recognized over an approximately three-year period.

Software license fee revenues for the quarter ended October 31, 2013 were USD6.2m, an increase of 13% over the same period last year. The company booked an additional USD1.1m that will be recognized over an approximately three-year period.

Services and other revenues for the quarter ended October 31, 2013 were USD11.7m compared to USD12.3m for the same period last year, a decrease of 5%. Maintenance revenues for the quarter ended October 31, 2013 were USD9.1m compared to USD8.4m, an increase of seven percent over the same period last year.

Operating earnings for the quarter ended October 31, 2013 were USD5.4m, an increase of 27% compared to the same period last year.

The company increased cash and investments by approximately USD5.4m when compared to October 31, 2012.

“Second quarter license fee revenue was up 13% and net earnings increased by 33%,” said Mike Edenfield, CEO. “As a result of our success in selling cloud services during the second quarter, we contracted an additional USD3.0m of revenues including USD1.1m in license fees which will be recognized over approximately three years.”

Atlanta-based American Software provides demand-driven supply chain management and enterprise software solutions, backed by more than 40 years of industry experience, that drive value for companies regardless of market conditions. For more information about American Software, visit www.amsoftware.com.

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