On November 23, QAD Inc. reported that its total revenue for the third fiscal quarter ended October 31, 1999, rose 56 percent to $56.7 million, from $36.4 million in the same quarter last year. License revenue was $20.6 million, an increase of 21 percent compared with $17.1 million in the prior-year period. Excluding non-recurring tax charges totaling $1.3 million, QAD reported a net loss for the third fiscal quarter of $3.2 million, or $0.11 diluted loss per share. Including the $1.3 million of non-recurring tax charges, QAD's net loss for the third quarter was $4.5 million, or $0.15 diluted loss per share. This compares with last year's
Reports Third-Quarter--Revenue Rises 56 Percent Event Summary Karl F. Lopker, QAD's Chief Executive Officer, stated, Our third-quarter growth was due to a number of key strategies that are now showing results. They include: our geographic expansion made through acquisitions, the continued expanding demand for services from QAD's Global Services Business and the growing demand for our Web-enabled MFG/PRO 9.0. In addition, the alignment of our cost structures with target levels has been completed.