CFO Daniel Lender said during a recent earnings webcast the profit came from efficient management of consultants and subcontractors. Subscription revenue rose to $23.9 million, up 38.8 percent from $17.2 million a year earlier while license revenue dropped 30.1 percent to $4.6 million from $6.6 million. QAD reported there are 59 sites live on its Channel Islands, which is for use with QAD Cloud ERP 2018. Currency changes chopped $1.2 million off the bottom line, compared to a $743,000 hit a year earlier.
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QAD RETURNS TO PROFIT Featured
Manufacturing software company QAD posted net income of $1.8 million for its third quarter ended October 31. That compared to a loss of $904,000 in last year’s corresponding period. The improvement came on a 3.4-percent increase in revenue, which rose to $79.6 million in the most recently ended period, from $76.9 million a year earlier.
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