Headline has been corrected to reflect that the correct year of this award is 2012. The corrected release reads: QAD NAMED 2012 “PARTNER OF THE YEAR” BY PROGRESS SOFTWARE Continually Creating Leading-Edge ERP Solutions QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB), a leading provider of enterprise software and services for global manufacturing companies, proudly accepted the Progress Software Partner of the Year award at Progress Software’s annual Global Partner Conference in Fort Lauderdale, Florida. "We are honored to have been awarded the Partner of the Year award recognizing the longstanding synergies that are the result of working together for nearly thirty years. Together we continue to collaborate on innovative ways to solve real business challenges for our customers,” said Gordon Fleming, chief marketing officer at QAD. “Progress® OpenEdge® has allowed QAD to develop dynamic, business process–enabled ERP solutions and gives our customers the flexibility to choose the delivery model that best meets their business needs: On Premise or On Demand.” “QAD exemplifies the true meaning of partnership where we collectively bring product innovation to global markets and raise the bar on what’s possible with everything we do,” said Andy Zupsic, SVP, Global Field Operations at Progress Software. “The impact of our commitment is evident by the global adoption of our solutions.” Earlier this year, QAD commenced an early adopter program for QAD Business Process Management which will give its customers the ability to model, automate and measure business processes, ultimately identifying areas to optimize operations. Business Process Management (BPM) is a combination of management practices, policies, metrics and software tools designed to help organizations document, automate, manage, analyze and improve processes. QAD is the first in the ERP space to offer an embedded BPM system. QAD has a vision for the nearly 2,800 companies they do business with in 97 countries to become “ the effective enterprise”, where every business process is working at peak efficiency and perfectly aligned to their strategic goals. Innovative solutions utilizing Progress technology is part of what makes achieving this vision possible. About QAD QAD is a leading provider of enterprise applications for global manufacturing companies specializing in automotive, consumer, electronics, food and beverage, industrial and life sciences products. QAD applications provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. For more information about QAD, telephone +1 805-566-6000, or visit the QAD web site at www.qad.com. “QAD” is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expects”, “believes”, “anticipates”, “could”, “will likely result”, “estimates”, “intends”, “may”, “projects”, “should”, and variations of these words and similar expressions are intended to identify these forward looking statements. Forward-looking statements are based on the company’s current expectations and assumptions regarding its business, the economy and future conditions. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to, evolving demand for the company's software products and products that operate with the company's products; the company's ability to sustain license and service demand; the company's ability to leverage changes in technology; the company's ability to sustain customer renewal rates at current levels; the publication of opinions by industry and financial analysts about the company, its products and technology; the reliability of estimates of transaction and integration costs and benefits; the entry of new competitors or new offerings by existing competitors and the associated announcement of new products and technological advances by them; delays in localizing the company's products for new or existing markets; the ability to recruit and retain key personnel; delays in sales as a result of lengthy sales cycles; changes in operating expenses, pricing, timing of new product releases, the method of product distribution or product mix; timely and effective integration of newly acquired businesses; general economic conditions; exchange rate fluctuations; and, the global political environment. In addition, revenue and earnings in the enterprise resource planning (ERP) software industry are subject to fluctuations. Software license revenue, in particular, is subject to variability with a significant proportion of revenue earned in the last month of each quarter. Given the high margins associated with license revenue, modest fluctuations can have a substantial impact on net income. Investors should not use any one quarter's results as a benchmark for future performance. For a more detailed description of the risk factors associated with the company and the industries in which it operates, please refer to the company's Annual Report on Form 10-K for fiscal 2012 ended January 31, 2012, and in particular, the section entitled “Risk Factors” therein, and in other periodic reports the company files with the Securities and Exchange Commission.