SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Wednesday reported a fiscal first-quarter loss of $3.2 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 17 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The enterprise software developer posted revenue of $78 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $78.3 million.
For the current quarter ending in August, QAD said it expects revenue in the range of $77 million to $79 million.
The company expects full-year revenue in the range of $330 million to $335 million.
QAD shares have increased 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.78, an increase of slightly more than 1% in the last 12 months.
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