Company:

QAD Inc

The QAD company, the leading world supplier of business applications and services, published financial results of the third quarter of the current financial year.

The total revenues of QAD corporation for the third quarter of 2011 financial year which ended on October 31 were 55.4 million dollars (it for 8% exceeds income of the previous reporting period – the second quarter of the current year, but is 1.5% less than result of the same period of last year). The company showed the most positive dynamics in a segment of services: income from rendering services was 15.4 million dollars that for 9.8% exceeds result of the third quarter of last financial year and for 20.9% – the second quarter of this year.

The gross profit of corporation made 32.5 million dollars – 59% of total income. Net profit was 1.7 million dollars, i.e. 0.05 dollars counting on an action. Next quarter QAD 0.06 dollars on an action are going to get profit.

Since the beginning of financial year (for February-October) QAD gained total revenues of 157.6 million dollars and the net profit of 0.8 million dollars (0.02 dollars counting on an action). The balance of money as of October 31, 2010 exceeds 57.7 million dollars. Since the beginning of financial year it grew by 13 million dollars.

According to Karl Lopker, one of heads of QAD, profit the companies in the third quarter provided high rates of income from technical support and services together with cost control. Improvements in a manufacturing sector continue to be observed, sales channels extend, and solutions on the On Demand model ("the software on demand") became much more popular than rather last year.

In the third quarter there was the last release of a flagman ERP system of the company: QAD Enterprise Applications 2010.1 Enterprise Edition.

Within this quarter the company received 13 orders for the amount more than 500 thousand dollars each, including 1 order worth more than 1 million dollars. Purchase orders of licenses from such major companies representing the markets, target for QAD, arrived:
– Advanced Engineering Company (instrument-making company, producer of autocomponents, home devices and equipment for heating, ventilation and air conditioning)
– C.R. Bard (the producer of the medical equipment and surgical instruments with more than century history)
– Fujikura Electronics (specializes in production of electrical wires, cables, devices, electronic components)
– Genzyme (the leader in the field of biotechnology)
– Tower Automotive (producer of automobile spare parts)
– Visteon Automotive Systems (the world's largest supplier of spare parts for automotive industry)
– Xomox Corporation (producer of drives, pith and ball valves, rotary locks and other machine-building products)

Financial results of QAD Inc are more detailed. – on the website of the authorized distributor of products of QAD in Russia BSB (Bee Es Bee LLC)