CLOUD SHIFT DAMPENS QAD RESULTS
- Thursday, 26 May 2016
- News and Analysis
The move of customers from licenses to cloud subscriptions dented results at software vendor QAD for the first quarter ended April 30. The company lost $2.7 million, compared to net income of $549,000 in last year's corresponding period. CFO Daniel Lender said results were also hurt by lower-than-expected services utilization as projects slipped out of the quarter and by a $1.4-million negative currency impact.
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