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QAD: Fiscal 3Q Earnings Snapshot

Last Updated Nov 24, 2020 at 5:26 pm EST

SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Tuesday reported fiscal third-quarter net income of $3.2 million.

On a per-share basis, the Santa Barbara, California-based company said it had profit of 16 cents. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The enterprise software developer posted revenue of $76.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $74.8 million.

QAD shares have decreased slightly more than 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $49.69, a drop of roughly 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QADA at https://www.zacks.com/ap/QADA

The Associated Press