U.S. Markets closed

QAD: Fiscal 3Q Earnings Snapshot

SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Tuesday reported fiscal third-quarter net income of $125,000.

On a per-share basis, the Santa Barbara, California-based company said it had net income of 1 cent. Earnings, adjusted for one-time gains and costs, were 14 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The enterprise software developer posted revenue of $77.8 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $78.2 million.

QAD expects full-year revenue of $311 million.

QAD shares have risen 27% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $50.12, an increase of 15% 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