American Software FY Q1 results below sole analyst
Shares of American Software, Inc. (Nasdaq: AMSWA) are spiraling downward today after the developer and marketer of software reported after Thursday’s close preliminary financial results for its first quarter of fiscal year 2008 below the Street.
For the three months ended July 31, the Atlanta, Ga.-based company recorded earnings per share of $0.08, while the sole analyst surveyed by Thomson Financial was expecting earnings of $0.10 per share. The company recorded earnings of $0.06 per share during the same quarter last year.
Revenue clocked in at $21.7 million, slightly below the Street’s estimate of $21.95 million. Last year the software company racked in $20.2 million in revenues.
Shares of American Software fell 16.8%, or $1.98 to $9.79 in late morning trading Friday.
