QAD: Fiscal Q2 Earnings Snapshot
SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Wednesday reported a fiscal second-quarter loss of $6.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Santa Barbara, California-based company said it had a loss of 31 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 32 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The enterprise software developer posted revenue of $84.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $81.7 million.
QAD shares have risen 38% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $87.10, a rise of 98% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QADA at https://www.zacks.com/ap/QADA