Results for the unnamed customer were in the year ago numbers, but produced no revenue for the recent quarter. The manufacturing software company fell to a $3.5 million loss, compared to $1.4 million in net income in last year’s corresponding period. Professional services revenue dropped to $18.4 million, down 31.4 percent from $26.9 million a year ago. CFO Daniel Lender noted the company is increasing sales and marketing spending to attract new customers. Although the sales pipeline is increasing, “We are seeing new deals taking a little longer to close,” he said during this week’s earnings webcast. However, QAD reported cloud subscription bookings reached the highest level ever. While cloud sales have generally split 50-50 between conversions and new customers, in the recent quarter, the majority were conversion of existing customers.