QAD reports Q2 results

Revenue remained static at $51.3m, while gross profit increased slightly to $29.8m

Enterprise software and services provider QAD has reported a revenue of $51.3m for the second quarter of fiscal 2011, as compared to $51.31m of the same period last year.

The company's gross profit increased to $29.8m from $29.08 of Q2 FY09. Gross margin for the fiscal 2011 second quarter was 58%, compared with 57% for the fiscal 2010 second quarter.

For the quarter ended 31 July 2010, QAD posted an operating income of $1m as compared to operating loss of $2.1m in Q2 FY09.

QAD reported a net income of 0.31m as compared to net loss of $1.42m of the same period prior year. Diluted net income per share was $0.01, as compared to diluted net loss per share of $0.05m in Q2 fiscal 2009.

QAD chief executive officer Karl Lopker said that the profitability this quarter reflected gross margin improvements and continued focus on enhancing operating efficiencies.

"Our On Demand business was strong, most noticeably in the automotive and life sciences sectors. Although some companies remain reticent to start new projects, we believe our newest software launch, QAD Enterprise Applications 2010, will help drive our business in the future," Lopker said.