American Software Reports Q1 EPS $0.10 vs $0.08 Est; Revenues $23.7M

American Software, Inc. AMSWA today reported preliminary financial results for the first quarter of fiscal year 2012, delivering a 139% increase in first quarter license fee revenues and a 67% increase in GAAP net earnings when compared to the same period last year. The Company has achieved 42 consecutive quarters of profitability and 32 consecutive quarters of providing dividend distributions to shareholders. Key first quarter financial highlights: Total revenues for the quarter ended July 31, 2011 were $23.7 million, an increase of 24% over the comparable period last year. Software license fee revenues for the quarter ended July 31, 2011 were $6.7 million, an increase of 139% over the same period last year. Services and other revenues for the quarter ended July 31, 2011 were $9.3 million compared to $9.2 million the same period last year. Maintenance revenues for the quarter ended July 31, 2011 were $7.8 million, an increase of 10% over the comparable period last year. Operating earnings for the quarter ended July 31, 2011 were $3.6 million, an increase of 78% compared to the same period last year. GAAP net earnings for the quarter ended July 31, 2011 were $2.3 million or $0.09 per fully diluted share, an increase of 67% over the first quarter of fiscal 2011. Adjusted net earnings for the quarter ended July 31, 2011, which excludes stock-based compensation expense and acquisition-related amortization of intangibles, were $2.6 million or $0.10 per fully diluted share, an increase of 56% compared to $1.6 million or $0.06 per fully diluted share for the same period last year, which excluded stock-based compensation expense and acquisition-related amortization of intangibles. Adjusted EBITDA increased 77% to $5.0 million in the quarter ended July 31, 2011, from $2.8 million in the quarter ended July 31, 2010. Adjusted EBITDA represents GAAP net income adjusted for amortization of intangibles, depreciation, interest income, income tax provision, stock-based compensation, and other significant non-routine operating and non-operating income and expense items, if applicable.