QAD: Fiscal 3Q Earnings Snapshot
SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Tuesday reported fiscal third-quarter net income of $3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Santa Barbara, California-based company said it had net income of 14 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The enterprise software developer posted revenue of $79.6 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $81.1 million.
QAD shares have climbed slightly more than 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $39.78, a climb of 4 percent in the last 12 months.