SANTA BARBARA, Calif. (AP) _ QAD Inc. (QADA) on Wednesday reported fiscal fourth-quarter net income of $4.9 million, after reporting a loss in the same period a year earlier.
The Santa Barbara, California-based company said it had profit of 24 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 35 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The enterprise software developer posted revenue of $82.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $81.6 million.
For the year, the company reported net income of $10.4 million, or 50 cents per share, swinging to a profit in the period. Revenue was reported as $333 million.
For the current quarter ending in May, QAD said it expects revenue in the range of $78 million to $79 million.
The company expects full-year revenue in the range of $330 million to $335 million.
QAD shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.08, a rise of almost 4 percent 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