QAD Announces Preliminary Financial Results for Fiscal 2013 Second Quarter
SANTA BARBARA, Calif.--August 9, 2012--QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB), a leading provider of enterprise software and services for global manufacturing companies, today provided preliminary financial results for the fiscal 2013 second quarter ended July 31, 2012.
Based on preliminary estimates, QAD anticipates that total revenue for the fiscal 2013 second quarter will be approximately $61 million. Previously, QAD said that it expected total revenue of approximately $65 million for the second quarter. The company attributed the revision to lower license and services revenues driven, in part, by the slowdown in the global manufacturing economy, and the effect of foreign exchange on maintenance and services revenues.
Given the current revenue estimates for the fiscal second quarter, QAD now expects to report earnings of approximately $0.08 per diluted Class A share and $0.06 per diluted Class B share. Previously the company said it expected earnings of approximately $0.18 per diluted Class A share and $0.15 per diluted Class B share.
QAD will report its complete fiscal 2013 second quarter financial results on Thursday, August 23, 2012 and will host a conference call at 2:00 p.m. PDT that day to discuss the company’s financial results, operations and outlook. The call will be accessible through a live webcast at QAD’s web site at www.qad.com. The webcast will be archived and available for approximately one year.
QAD is a leading provider of enterprise applications for global manufacturing companies specializing in automotive, consumer, electronics, food and beverage, industrial and life sciences products. QAD applications provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. For more information about QAD, telephone +1 805-566-6000, or visit the QAD web site at www.qad.com.
“QAD” is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.