American Software Has Been Starving While Delivering Innovations
P.J. Jakovljevic - September 18, 2000

Event Summary

In August, American Software, Inc, one of the leading mid-market enterprise applications vendors, reported results for the first quarter of fiscal year 2001, ended July 31, 2000. Total revenues for the quarter were $22.0 million, a 22% decrease from the same quarter last year. Software license fees were $2.5 million, a 60% decrease from the same period last year. Services revenues were $13.3 million, a 16% decrease from the same quarter last year. Maintenance revenues were $6.3 million, a 1% increase from the same period in fiscal 2000. Net loss was approximately $3.7 million compared to a net income of $904,000 for the comparable period last year (See Figure 1)...