This estimate compares to third quarter FY 2001 revenue of $50.0 million and fourth quarter FY 2000 revenue of $70.9 million, which included $12 million in license revenue from one customer. QAD also announced that it expects to be profitable for this quarter. Previous estimates were a range of a slight profit to a slight loss. Prior year fourth quarter diluted earnings per share were six cents.
Our positive results this past quarter are due to the firming of the ERP market, the shipment and successful pilot of the QAD eQ Sell Side solution and the refocused efforts of our staff on growth and profitability after a series of cost reducing actions in the third quarter, said Karl Lopker, CEO of QAD. While we are concerned about the effect of the slowdown in manufacturing and related capital expenditures, we are encouraged by our customers’ renewed focus on enterprise and supply chain systems from vendors they know and trust. Moreover, we have seen improvements in our gross margins compared to the prior year due to a higher percentage of internally developed software in our revenue mix.
SOURCE: COMPANY PRESS RELEASE
