clearn.png
Saturday January 28th, 2023 6:37PM

American Software Reports Second Quarter of Fiscal Year 2023 Results

By The Associated Press

ATLANTA--(BUSINESS WIRE)--Nov 17, 2022--

American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the second quarter of fiscal year 2023.

Key Second Quarter of Fiscal Year 2023 highlights:

The overall financial condition of the Company remains strong, with cash and investments of approximately $106.8 million. During the second quarter of fiscal year 2023, the Company paid shareholder dividends of approximately $3.7 million.

“We were pleased to see our adjusted EBITDA margin expand sequentially and year-over-year to nearly 16% despite delayed project starts that impacted our revenue in Q2,” said Allan Dow, CEO and President of American Software. “Although we are adjusting our revenue guidance lower to account for these delays, we are increasing our adjusted EBITDA expectations to reflect the strong performance to date and a more measured pace of investment amid the current global economic environment.”

Atlanta-based American Software, Inc. ( ), through its operating entity Logility delivers an innovative technical platform that enables enterprises to accelerate their digital supply chain transformation from product concept to client availability via the Logility® Digital Supply Chain Platform, a single platform spanning Product, Demand, Inventory, Supply, Sourcing, Deploy, Corporate Responsibility (ESG) and Network Optimization aligned with Integrated Business Planning.

Serving clients such as Big Lots, Carter’s, Destination XL, Hostess, Husqvarna Group, Jockey International, Johnson Controls, Parker Hannifin, Red Wing Shoe Company, Spanx, Trident Seafoods Corporation, and WEG; our solutions are marketed and sold through a direct sales team as well as an indirect global value-added reseller (“VAR”) distribution network.

Fueled by supply chain master data, allowing for the automation of critical business processes through the application of artificial intelligence and machine learning algorithms to a variety of internal and external data streams, the comprehensive Logility portfolio delivered in the cloud includes advanced analytics , supply chain visibility, demand, inventory and replenishment planning, Sales and Operations Planning (S&OP), Integrated Business Planning (IBP), supply and inventory optimization, manufacturing planning and scheduling, network design and optimization (NDO), retail merchandise and assortment planning and allocation, product lifecycle management (PLM), sourcing management, vendor quality and compliance, and product traceability. For more information about Logility, please visit . Logility is a wholly-owned subsidiary and operating entity for American Software, Inc. (NASDAQ: AMSWA). You can learn more about American Software at , or by calling (404) 364-7615 or emailing .

The Company includes non-GAAP financial measures (EBITDA, adjusted EBITDA, adjusted net earnings and adjusted net earnings per share) in the summary financial information provided with this press release as supplemental information relating to its operating results. This financial information is not in accordance with, or an alternative for, GAAP-compliant financial information and may be different from the operating or non-GAAP financial information used by other companies. The Company believes that this presentation of EBITDA, adjusted EBITDA, adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations. EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest (loss)/income & other, net, and income tax expense. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest (loss)/income & other, net, income tax expense/(benefit) and non-cash stock-based compensation expense.

.

 

View source version on businesswire.com:

CONTACT: Financial Information Press Contact:Vincent C. Klinges

Chief Financial Officer

American Software, Inc.

(404) 264-5477

KEYWORD: GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LOGISTICS/SUPPLY CHAIN MANAGEMENT DATA MANAGEMENT TRANSPORT TECHNOLOGY SOFTWARE

SOURCE: American Software, Inc.

Copyright Business Wire 2022.

PUB: 11/17/2022 04:05 PM/DISC: 11/17/2022 04:06 PM

http://www.businesswire.com/news/home/20221117006058/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia
© Copyright 2023 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Trump Org.'s longtime CFO chokes up, says he betrayed trust
Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid perks, including a Manhattan apartment and luxury cars
4:21PM ( 3 minutes ago )
'Momentous:' Feds advance largest dam demolition in history
U.S. regulators approved a plan to demolish four dams on a California river and open up hundreds of miles of salmon habitat that would be the largest dam removal and river restoration project in the world when it goes forward
4:09PM ( 14 minutes ago )
Commanders sued by DC for cheating fans out of ticket money
The Washington Commanders have been sued again by the District of Columbia
3:57PM ( 26 minutes ago )
Associated Press (AP)
Pelosi to step aside from Dem leadership, remain in Congress
House Speaker Nancy Pelosi says she won't seek a leadership role in the new Congress
3:43PM ( 40 minutes ago )
Myanmar releasing 4 foreigners in broad prisoner amnesty
Myanmar’s military-controlled government says it is releasing and deporting an Australian academic, a Japanese filmmaker, an ex-British diplomat and an American as part of a broad prisoner amnesty marking the country’s National Victory Day
3:36PM ( 48 minutes ago )
Starbucks workers strike at more than 100 US stores
Starbucks workers at more than 100 U.S. stores are going on strike Thursday
3:04PM ( 1 hour ago )
AP Business
Macy's boosts 2022 guidance while Kohl's outlook withdrawn
Macy’s profits and sales slid in the third quarter as the department store had to step up discounts amid a pullback from shoppers stung by inflation
12:26PM ( 3 hours ago )
Exec who cleaned up Enron calls FTX mess 'unprecedented'
The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control
11:24AM ( 5 hours ago )
Exec who cleaned up Enron calls FTX mess "unprecedented"
The new CEO of the collapsed cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said he has never seen such a “complete failure” of corporate control
10:17AM ( 6 hours ago )
AP Business - Corporate News
No. 13 North Carolina can clinch 10-win season vs Ga Tech
Coach Mack Brown had been clear he didn’t want to talk about various scenarios for his North Carolina team to clinch its Atlantic Coast Conference division title, only winning
12:11PM ( 4 hours ago )
Top-ranked Georgia seeks perfect SEC finish against Kentucky
Top-ranked Georgia and Kentucky were picked to finish 1-2 in the SEC East
11:47AM ( 4 hours ago )
No. 1 Georgia eyes 2nd perfect SEC record in row at Kentucky
Top-ranked Georgia has already clinched the SEC Eastern Division title but seeks a second consecutive 8-0 finish in league play when it visits Kentucky on Saturday
11:46AM ( 4 hours ago )
AP Online - Georgia News
AP Business Wire - Georgia
Trump Org.'s longtime CFO chokes up, says he betrayed trust
Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid perks, including a Manhattan apartment and luxury cars
4:21PM ( 3 minutes ago )
'Momentous:' Feds advance largest dam demolition in history
U.S. regulators approved a plan to demolish four dams on a California river and open up hundreds of miles of salmon habitat that would be the largest dam removal and river restoration project in the world when it goes forward
4:09PM ( 14 minutes ago )
Commanders sued by DC for cheating fans out of ticket money
The Washington Commanders have been sued again by the District of Columbia
3:57PM ( 26 minutes ago )
Elizabeth Holmes faces judgment day for her Theranos crimes
A federal judge on Friday will decide whether disgraced Theranos CEO Elizabeth Holmes should serve a lengthy prison sentence for duping investors and endangering patients while peddling a bogus blood-testing technology
3:55PM ( 28 minutes ago )
Buffalo mass shooter to plead guilty, victims' lawyers say
The man who killed 10 Black people in a mass shooting at a Buffalo supermarket plans to plead guilty to the massacre
3:54PM ( 29 minutes ago )