Revenue for the most recently ended year  was slightly more than $305 million, an increase of  9.7 percent from slightly less than $278 million. Subscription revenue rose by 33 percent, but besides adding to revenue it also lowers earnings since the revenue is recognized over the life of the contract while commissions are recognized upfront. CEO Karl Lopker said in this week’s earnings webcast that cloud bookings for quarter and year came in over expectations. Cloud bookings remain evenly split between new customers and migrating on-premise purchasers. CFO Daniel Lender said results reflect a strong global manufacturing market. He said QAD anticipates making additional investment in data center and cloud operations. Thirty-six percent of revenue was from the company’s automotive sector; 34 percent from high-tech and industrial products; consumer products and beverages, 16 percent; and life sciences, 14 percent. North America provided 45 percent of revenue;  EMEA, 31 percent; Asia-Pacific, 16 percent; and Latin America, 8 percent.