Chilton said the investment is in an “Extended Inside sales and lead-generation facility as well as increasing our field sales force.” The company also will open a data center in China this year. QAD reported $10.4 million in net income for the most recently ended year, a rebound from a loss of $9.1 million for fiscal 2018. Last year’s revenue was $333 million, a 9-percent increase from slightly more than $305 million in 2018. QAD’s move to the cloud gave the P&L as predictable pattern—subscription revenue up sharply, flat license software and slow growth in maintenance. Subscription revenue for 2018 was $91.9 million, up 32 percent from $69.6 million. While license revenue was virtually unchanged for the year at $25.6 million, the software company reported $9.1 million in license revenue for the fourth quarter of fiscal 2019, a rise of 27 percent from $7.2 million for the corresponding period a year earlier. Executives were happy with the performance of the business in North America but noted execution issues led to weakness in EMEA, which triggered management changes there. The region is expected to be back on track in the second half of fiscal 2020.
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QAD GROWING SALES FORCE Featured
QAD is investing in building its inside and field sales force, the manufacturing software company said this week. CEO Anton Chilton discussed the plans during a webcast for earnings for the year ended January 31.
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