QAD revenue up 11% from prior year Q1

QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB) said its total revenue grew 11 percent to USD68.5m for the fiscal 2015 first quarter, up from USD61.9m for the same quarter last year.

License revenue increased to USD6.7m for the first quarter of fiscal 2015, up from USD6.2m for the first quarter of fiscal 2014. Subscription revenue grew to USD6.2m, up from USD4.0m for last year´s fiscal first quarter, driven by continued growth of sales in the QAD Enterprise Cloud. Maintenance and other revenue rose to USD36.1m, up from USD35.2m for last year´s fiscal first quarter. Professional services revenue increased to USD19.6m, up from USD16.5m for the first quarter of fiscal 2014.

Net loss for the fiscal 2015 first quarter was approximately breakeven, or USD0.01 per class A share and USD0.00 per class B share. Net loss for the fiscal 2014 first quarter totaled USD1.3m, or USD0.08 per class A share and USD0.07 per class B share.

QAD is a provider of enterprise software and services designed for global manufacturing companies. For more than 30 years, QAD has provided global manufacturing companies with QAD Its website is at www.qad.com.

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