For the trailing four quarters, our net cash generated increased $18.8 million, which is an increase of $2.8 million, or 17%, compared with the $16 million in the trailing four quarters net cash generated for the same period a year ago. This represents net cash generated per outstanding share of approximately $1.06.
Second, a high and increasing percentage of our revenue flowed through to increase adjusted EBITDA income from operations and net income, as you can see in slide four. Adjusted EBITDA increased 10% for the third quarter to $5.8 million, which was up $500,000, or as I mentioned, 10%, from the $5.2 million in adjusted EBITDA achieved for the third quarter of fiscal 2011. This also made the fiscal third quarter adjusted EBITDA our best ever for our current business.
As you know, or may recall from our previous calls, we were up against a big comp quarter from last year, where adjusted EBITDA increased $3.2 million, which was 161% compared to the third quarter of 2010, reflecting in significant part the recognition of income from an ongoing government agency contract in last year’s third quarter. So we were very pleased to exceed this and grow adjusted EBITDA 10% for the quarter.
I might just make a note, because in the last several quarters we’ve talked about the effect of the big government contract, which has been a great thing. Happy to report that in this last quarter, at the end of the last quarter, we won the rebid for that contract, and so going forward, at least over this next 12 months, it ought to be pretty steady and not something we have to talk about each quarter.Income from operations increased 19% for the third quarter to $3.4 million, up from $2.9 million for the third quarter of fiscal 2011, and net income for the third quarter more than doubled to $1.6 million, or $0.09 a share, up from $700,000 or $0.04 a share in the third quarter of 2011. This reflected both the strength of our operating performance and an improvement in our effective tax rate. And so for the trailing four quarters ended May 26, net income increased $6.1 million to $7.4 million compared with the $1.3 million in trailing four quarters net income for the same period a year ago.Read the rest of this transcript for free on seekingalpha.com
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