QAD Inc. sinking in after hours on FY08 Q2 results
Shares of QAD Inc. (Nasdaq: QADI) are edging lower in after-market trading after the provider of enterprise software and services reported EPS for its fiscal 2008 second quarter below the Street.
For the three months ended July 31, the Carpinteria, Calif.-based company recorded net income of $0.5 million, or $0.02 per diluted share, below the $0.05 per share three analysts polled by Thomson Financial were expecting. For the second quarter of 2007, the company booked net income of $1.1 million, or $0.03 per diluted share.
Total revenue increased 10% to $64.2 million in the second quarter of fiscal 2008 from $58.4 million in the same period last year. Analysts were expecting revenue of $61.45 million on average.
Shares of QAD slid $0.37, or 4.53%, to $7.80 in after-hours trading Thursday.
