MAM Software (NASDAQ: MAMS) reported Q1 EPS of $0.06, $0.01 better than the analyst estimate of $0.05. Revenue for the quarter came in at $8 million versus the consensus estimate of $7.76 million.

Michael Jamieson, MAM's President and Chief Executive Officer commented, "Despite the impact from currency fluctuations, on a constant currency basis, revenue grew by 3%, while simultaneously we continue to invest in product development and sales and marketing to transition to a cloud-based business model. In the U.S., an important growth market for us, we grew by 6% over the first quarter of last year. Recurring revenue increased to 78% of total revenue supported by continued positive, upwards trends in our SaaS and DaaS offerings. Our SaaS revenue grew 42% year-over-year and 9% sequentially. Taking everything into account, we are pleased with the progress made during the quarter and the overall direction in which we are headed."

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