Logility Surges on Second Quarter Earnings Announcement
Steve McVey - November 24, 1999

Event Summary

Logility, Inc. recently announced its financial results for the second quarter and six months ended October 31, 1999. In spite of the Y2K marketplace malaise, Logility reported increases in software license, services, and maintenance revenues. Software license fees for the quarter were $4.0 million, a 124% increase over the second quarter of last year. Services and maintenance revenues were $4.5 million, a 28% improvement over the same period last year. Total revenues for the quarter of $8.6 million or $0.07 per share represented a 60% increase over last year. In addition, profits fell comfortably in positive territory at $0.07 per diluted share. Logility CEO J. Michael Edenfield attributes the favorable results in part to the successful launch of Logility's i-Commerce initiative, focusing on internet-enabled supply chain management applications; collaborative planning, forecasting and replenishment (CPFR); trading partner collaboration; and application hosting services...