SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Wednesday reported fiscal fourth-quarter earnings of $410,000.
On a per-share basis, the Santa Barbara, California-based company said it had net income of 2 cents. Earnings, adjusted for stock option expense and amortization costs, came to 15 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The enterprise software developer posted revenue of $78.6 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $78.7 million.
For the year, the company reported a loss of $15.9 million, or 82 cents per share, swinging to a loss in the period. Revenue was reported as $310.8 million.
QAD shares have declined 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.31, a drop of 33% in the last 12 months.