Net income for the quarter was $1.5 million, or $0.05 per diluted share, including pre-tax stock compensation expense of $1.5 million, or $0.03 per diluted share net of tax. In the comparable period last year, net income was $0.9 million, or $0.03 per diluted share, including pre-tax stock compensation expense of $1.3 million, or $0.03 per diluted share net of tax.
For the fiscal 2008 nine-month period ended October 31, 2007, QAD reported revenue of $187.4 million, or an increase of 11% versus $169.1 million for the comparable period last year.
Net income for the nine months was $0.2 million, or $0.01 per diluted share, including pre-tax stock compensation expense of $4.5 million, or $0.09 per diluted share net of tax. This compares with net income of $3.5 million, or $0.10 per diluted share, including stock compensation expense of $3.9 million, or $0.08 per diluted share net of tax, in the first nine months of fiscal 2007.
Karl Lopker, CEO of QAD, said: The most recent release of QAD enterprise applications, QAD 2007.1, which includes extensions to both our product suite and services offerings, is being well received by the market. This, together with improved execution, is helping us serve the needs of global manufacturers and grow our business.
