QAD Inc. (QADB) Reports Q4 EPS of $0.24, Revenues Beat; Offers FY20 Revenue Guidance Below Consensus

QAD Inc. (NASDAQ: QADB) reported Q4 EPS of $0.24, versus ($0.28) reported last year. Revenue for the quarter came in at $82.7 million versus the consensus estimate of $81.62 million.

Additional fiscal 2019 fourth quarter financial highlights, versus the same period last year, include:

• Subscription revenue of $24 million, compared with $19.7 million. Currency had a $424,000 negative impact.
• Subscription gross margin of 63 percent, versus 60 percent.
• License revenue of $9.1 million, compared with $7.2 million. Currency had a $181,000 negative impact.
• Professional services revenue of $19.1 million, versus $22.1 million. Currency had a $715,000 negative impact.
• Maintenance and other revenue of $30.5 million, compared with $31.9 million. Currency had a $737,000 negative impact.
• GAAP pre-tax income of $3.2 million, versus a GAAP pre-tax loss of $3 million.
• Non-GAAP pre-tax income of $6 million, compared with a non-GAAP pre-tax loss of $927,000.
• GAAP pre-tax income and non-GAAP pre-tax income were higher than the company\'s guidance as a result of higher than expected license revenue.
• GAAP net income of $4.9 million, or $0.24 per diluted Class A share and $0.21 per diluted Class B share, versus a GAAP net loss of $5.2 million, or $(0.28) per Class A share and $(0.23) per Class B share.

"During fiscal 2019 we continued to drive growth in our cloud business and delivered substantial improvement to subscription margins," said Anton Chilton, Chief Executive Officer of QAD. "Our focus on digital transformation brought several new solutions to the market with more to come in the near future. Additionally, our Channel Islands offering strengthens QAD\'s leadership position in adaptable cloud-based ERP and enhances our long-term growth prospects."

GUIDANCE:

QAD Inc. sees Q1 2020 revenue of $78-79 million.

QAD Inc. sees FY2020 revenue of $330-335 million, versus the consensus of $353.23 million.

For earnings history and earnings-related data on QAD Inc. (QADB) click here.

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