QAD reports second-quarter loss of $1.2 million
Santa Barbara software company QAD had a fiscal second-quarter loss of $1.2 million or 6 cents per share, the company reported Aug. 24.
Total revenue for the second quarter was $76 million, up from $69.8 million for the fiscal 2017 second quarter. Subscription revenue, which is 23 percent of total revenue, grew 41 percent year-over-year.
The company reported operating expenses of $38.7 million, up from $37 million for the same quarter the prior year.
For the third quarter of fiscal 2018, QAD expects total revenue of $73 million to $75 million, including $17.4 million of subscription revenue.
For the fiscal 2018 year, QAD anticipates total revenue of $292 million to $296 million, including $68 million to $70 million of subscription revenue.