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QAD Inc. (QADI) filed Quarterly Report for the period ended 2011-10-31.
Qad Inc. has a market cap of $200.65 million; its shares were traded at around $0 with a P/E ratio of 46.5. The dividend yield of Qad Inc. stocks is 1.5%.
This is the annual revenues and earnings per share of QADI over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of QADI.
Highlight of Business Operations:
Total revenue increased to $60.7 million for the third quarter of fiscal 2012, up from $55.4 million in the third quarter of fiscal 2011. We experienced increases of 19% in license revenue, 1% in maintenance and other revenue, 23% in professional services revenue and 43% in subscription revenue over the same period last year. Total revenue for the first nine months of fiscal 2012 was $182.1 million, a $24.5 million, or 16%, increase from the first nine months of fiscal 2011. License revenue for the first nine months of fiscal 2012 increased by 24%, maintenance and other revenue increased by 7%, professional services revenue increased by 27% and subscription revenue increased by 67% over the same period last year. Net income increased to $3.0 million for the third quarter of fiscal 2012, up from $1.7 million in the third quarter of fiscal 2011. Net income for the first nine months of fiscal 2012 was $7.1 million compared to net income of $0.8 million for the first nine months of fiscal 2011.Total Revenue. Total revenue was $60.7 million and $55.4 million for the third quarters of fiscal 2012 and 2011, respectively. Holding foreign currency exchange rates constant to fiscal 2011, total revenue for the third quarter of fiscal 2012 would have been approximately $59.9 million, representing a $4.5 million, or 8%, increase from the same period last year. When comparing categories within total revenue at constant rates, our current quarter results included increases in our license, subscription and professional services revenue categories and a slight decrease in our maintenance and other revenue. Revenue outside the North America region as a percentage of total revenue was 58% for the third quarter of fiscal 2012, as compared to 57% in the third quarter of fiscal 2011. Total revenue increased across all geographic regions in which we operate during the third quarter of fiscal 2012 when compared to the same quarter last year. Our products are sold to manufacturing companies that operate mainly in the following industries: automotive, consumer products, food and beverage, high technology, industrial products and life sciences. Given the similarities between food and beverage and consumer products as well as between high technology and industrial products, we aggregate them for management review. Revenue by industry for the third quarter of fiscal 2012 was approximately 28% in automotive, 22% in consumer products and food and beverage, 37% in high technology and industrial products and 13% in life sciences. In comparison, revenue by industry for the third quarter of fiscal 2011 was fairly consistent with fiscal 2012 with approximately 27% in automotive, 22% in consumer products and food and beverage, 35% in high technology and industrial products and 16% in life sciences.
Total revenue was $182.1 million and $157.6 million for the first nine months of fiscal 2012 and 2011, respectively. Holding foreign currency exchange rates constant to fiscal 2011, total revenue for the first nine months of fiscal 2012 would have been approximately $176.6 million, representing a $19.0 million, or 12%, increase from the same period last year. When comparing categories within total revenue at constant rates, our first nine months results included increases across all revenue categories. Revenue outside the North America region as a percentage of total revenue was 58% for the first nine months of fiscal 2012, as compared to 57% in the same period of the prior fiscal year. Total revenue increased across all geographic regions in which we operate during the first nine months of fiscal 2012 when compared to the same nine months last year. Revenue by industry for the first nine months of fiscal 2012 was approximately 28% in automotive, 22% in consumer products and food and beverage, 36% in high technology and industrial products and 14% in life sciences. In comparison, revenue by industry for the first nine months of fiscal 2011 was fairly consistent with fiscal 2012 with approximately 26% in automotive, 22% in consumer products and food and beverage, 37% in high technology and industrial products and 15% in life sciences.
Cost of professional services was $49.1 million and $38.5 million for the first nine months of fiscal 2012 and 2011, respectively. Holding foreign currency exchange rates constant to fiscal 2011, cost of professional services for the first nine months of fiscal 2012 would have been approximately $47.2 million, representing an increase of $8.7 million, or 23%. The non-currency increase in cost of professional services of $8.7 million in the first nine months of fiscal 2012 compared to the first nine months of fiscal 2011 was due primarily to higher services salaries and related costs of $4.1 million as a result of higher headcount of approximately 40 people, higher third-party contractor costs of $2.3 million, higher travel costs of $1.1 million, higher bonuses of $0.6 million, higher professional fees of $0.3 million and higher information technology and facilities allocated costs of $0.3 million partially offset by lower severance of $0.2 million. Cost of professional services as a percentage of professional services revenues was consistent at 99% for the first nine months of fiscal 2012 and fiscal 2011.
Sales and marketing expense was $42.3 million and $38.7 million for the first nine months of fiscal 2012 and 2011, respectively. Holding foreign currency exchange rates constant to fiscal 2011, sales and marketing expense for the first nine months of fiscal 2012 would have been approximately $40.9 million, representing an increase of $2.2 million, or 6%. The non-currency related increase in sales and marketing expense of $2.2 million in the first nine months of fiscal 2012 compared to the first nine months of fiscal 2011 was primarily due to higher commissions of $1.1 million, higher salaries and related costs of $0.8 million as a result of higher headcount of approximately 20 people, higher bonuses of $0.3 million, higher travel costs of $0.3 million and higher professional fees of $0.2 million partially offset by lower information technology and facilities allocated costs of $0.3 million, lower stock compensation expense of $0.2 million and lower severance of $0.1 million.
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