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QAD SUBS, LICENSES UP Featured

Karl Lopker, QADQAD held to one industry pattern, but broke another as both subscription and license revenue rose by 33 percent for the first quarter ended April 30. The Santa Barbara, Calif.-based software vendor cut its loss to $2.6 million for the most recently quarter, down 8.6 percent from $2.8 million year earlier.

Revenue rose by 8.6 percent to $71.4 million in the first quarter, from $65.4 million in last year's corresponding period. CEO Carl Lopker noted recently in reporting results the company's success in its move to selling cloud subscriptions. "We were pleased to see strong bookings performance in our cloud business, combined with continued improvements to our subscription gross margin," he said in a prepared statement. He cited a continued strong global manufacturing market. Another trend in moving to the cloud held in maintenance revenue, which fell to $31.9 million, down 2.8 percent from $32.8 million. QAD said there were orders from 17 customers of more $500,000 each in combined license, subscription, maintenance and professional services billings. Those include eight orders in excess of $1 million each. In the remaining revenue category, professional services rose to $18.9 million, up 10.2 percent from $17.1 million.

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