This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

American Software Reports Preliminary Third Quarter Of Fiscal Year 2013 Results

Stocks in this article: AMSWA

American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the third quarter of fiscal 2013. The Company has achieved 48 consecutive quarters of profitability and has distributed dividends to shareholders for 38 consecutive quarters.

Key third quarter financial highlights:

  • Total revenues for the quarter ended January 31, 2013 were $23.1 million, a decrease of 9% over the comparable period last year.
  • Software license fee revenues for the quarter ended January 31, 2013 were $4.9 million, a decrease of 28% over the same period last year.
  • Services and other revenues for the quarter ended January 31, 2013 were $9.6 million compared to $10.3 million for the same period last year, a decrease of 7%.
  • Maintenance revenues for the quarter ended January 31, 2013 were $8.6 million compared to $8.3 million, an increase of 3% over the same period last year.
  • Operating earnings for the quarter ended January 31, 2013 were $2.3 million, a decrease of 30% compared to the same period last year.
  • GAAP net earnings for the quarter ended January 31, 2013 were $2.1 million or $0.08 per fully diluted share, a decrease of 17% over the same period last year.
  • Adjusted net earnings for the quarter ended January 31, 2013, which excludes stock-based compensation expense and amortization of acquisition-related intangibles, were $2.5 million or $0.09 per fully diluted share compared to $2.9 million or $0.11 per fully diluted share for the same period last year, which also excluded stock-based compensation expense and amortization of acquisition-related intangibles.
  • Adjusted EBITDA was $3.7 million in the quarter ended January 31, 2013 compared to $4.7 million in the quarter ended January 31, 2012. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income, income tax expense, stock-based compensation, and other significant non-routine operating and non-operating income and expense items, if applicable.

Key fiscal 2013 year to date financial highlights:

  • Total revenues for the nine months ended January 31, 2013 were $75.3 million, a 1% increase over the comparable period last year.
  • Software license fees for the nine-month period were $15.5 million, a 24% decrease compared to the same period last year.
  • Services and other revenues were $34.4 million, a 14% increase compared to the same period last year.
  • Maintenance revenues were $25.4 million, a 5% increase over the comparable period last year.
  • For the nine months ended January 31, 2013, the Company reported operating earnings of approximately $10.2 million, a 12% decrease over the same period last year.
  • GAAP net earnings were approximately $7.3 million or $0.27 per fully diluted share for the nine months ended January 31, 2013, a 7% decrease compared to $7.9 million or $0.29 per fully diluted share for the same period last year.
  • Adjusted net earnings for the nine months ended January 31, 2013, which excludes stock-based compensation expenses and acquisition-related amortization of intangibles, were $8.3 million or $0.30 per fully diluted share, compared to $8.7 million or $0.32 per fully diluted share for the same period last year, which also excluded stock-based compensation expenses and acquisition-related amortization of intangibles.
  • Adjusted EBITDA decreased 8% to $14.5 million for the nine months ended January 31, 2013, from $15.8 million for the nine months ended January 31, 2012. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income, income tax expense, stock-based compensation, and other significant non-routine operating and non-operating income and expense items, if applicable.

The Company is including EBITDA, adjusted EBITDA, adjusted net earnings and adjusted net earnings per share in the summary financial information provided with this press release as supplemental information relating to its operating results. This financial information is not in accordance with, or an alternative for, GAAP-compliant financial information and may be different from non-GAAP net earnings and non-GAAP per share measures used by other companies. The Company believes that this presentation of adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs