American Software (AMSWA) Tops Q4 EPS by 6c

American Software (NASDAQ: AMSWA) reported Q4 EPS of $0.11, $0.06 better than the analyst estimate of $0.05. Revenue for the quarter came in at $28.6 million versus the consensus estimate of $28.7 million.

Key Fourth Quarter Financial Highlights:

• Subscription fees were $8.1 million for the quarter ended April 30, 2021, a 28% increase compared to $6.3 million for the same period last year, and Software license revenues were $1.2 million, a 15% increase compared to $1.1 million for the same period last year.
• Cloud Services Annual Contract Value (ACV) increased approximately 45% to $38.3 million for the quarter ended April 30, 2021 compared to $26.4 million during the same period of the prior year.
• Total revenues for the quarter ended April 30, 2021 decreased 2% to $28.6 million, compared to $29.3 million for the same period of the prior year.
• Recurring revenue streams for Maintenance and Cloud Subscriptions were 60% of total revenues in the quarter ended April 30, 2021 compared to 57% in the same period of the prior year.
• Maintenance revenues for the quarter ended April 30, 2021 decreased 12% to $9.2 million compared to $10.4 million for the same period last year.
• Professional services and other revenues for the quarter ended April 30, 2021 decreased 13% to $10.1 million compared to $11.5 million for the same period last year.
• Operating earnings for the quarter ended April 30, 2021 increased 20% to $1.9 million compared to $1.6 million for the same period last year.
• GAAP net earnings for the quarter ended April 30, 2021 increased 460% to $3.1 million or $0.09 per fully diluted share compared to $0.5 million or $0.02 per fully diluted share for the same period last year.
• Adjusted net earnings for the quarter ended April 30, 2021, which excludes non-cash stock-based compensation expense and amortization of acquisition-related intangibles, increased 185% to $3.6 million or $0.11 per fully diluted share compared to $1.3 million or $0.04 per fully diluted share for the same period last year.
• EBITDA decreased by 9% to $3.1 million for the quarter ended April 30, 2021 compared to $3.4 million for the same period last year.
• Adjusted EBITDA decreased by 4% to $3.7 million for the quarter ended April 30, 2021 compared to $3.9 million for the same period last year. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest income (expense) & other, net, income tax expense (benefit) and non-cash stock-based compensation expense.

“We are pleased with our fourth quarter and overall fiscal year 2021 performance. In the midst of the economic uncertainty resulting from the pandemic, we exited the year on a strong note with both net new Cloud Services ACV and total bookings more than doubling our prior highs for a quarter,” said Allan Dow, CEO and president of American Software. “Our performance reflects increasing adoption of cloud-based supply chain transformation solutions and our backlog as measured by our Remaining Performance Obligations (RPO) increased 51% to $116 million in the fourth quarter when compared to last year, which demonstrates the longer-term commitment of our customers to our platform and services. Our pipeline remains robust as we enter our fiscal year 2022 as the current spotlight on supply chain disruption continues to fuel interest in supply chain transformation initiatives.”

“This past year also heightened the importance of a resilient, agile enterprise that champions corporate social responsibility and sustainability,” continued Dow. “Our commitment to enabling our customers to create sustainable supply chains that improve lives and the world we live in is at the core of our brand promise. During the last year, our customers entrusted us to provide innovation and services as they faced significant challenges because of the pandemic. We delivered solutions at a record pace, and innovation that has been recognized as industry leading.”

For earnings history and earnings-related data on American Software (AMSWA) click here.

You May Also Be Interested In

• onsemi downgraded by TD Cowen after Synaptics deal clouds growth story
• Abacus defamation suit against Coventry survives dismissal bid
• Paramount Skydance extends bond offer deadlines to July 15