QAD: ambiguous results of year

The QAD Inc company announced results of all of the 2010 financial year which came to the end on January 31, 2010. Revenue for all 2010 f. made 215.2 million dollars that is 18% less, than a year ago (262.7 million dollars). Net profit was 1.3 million dollars, in comparison with net loss in the amount of 23.7 million dollars in 2009 f.

According to Karl Lopker (Karl Lopker), the CEO of QAD company, sales in the fourth quarter corresponded to forecasts of the company. QAD got profit for the last quarter and year. The company successfully passed tough economic times and expanded a product line and partnership with clients to help them to deploy solutions of QAD for growth of business opportunities and the maximum profitability.

In the fourth quarter QAD company over 1 million dollars and three for the amount over 2 million dollars signed 26 contracts with new clients, everyone for the amount over 500 thousand dollars, including nine contracts for the amount. Besides, QAD received purchase orders of licenses from six vertical markets and also reported that the ERP system of QAD 2009.1 of Enterprise Applications meets the requirements of the latest edition "Control directives material flows and assessment of a system of supply" (Materials Management Operations Guideline/Logistics Evaluation, MMOG/LE) – the international standard of automotive industry.

In the I quarter 2011 f. (i.e. till April 30, 2010) QAD expects to gain about 54 million dollars of income. Considering the remaining indefinite economic situation, the company does not publish the forecast for all of 2011 f.