American Software (NASDAQ:AMSWA) earnings for the company’s fiscal fourth quarter of 2020 have AMSWA stock taking a beating on Friday. That comes after reporting adjusted earnings per share of 4 cents on revenue of $29.27 million. For comparison, Wall Street was expecting adjusted EPS of 4 cents on revenue of $28.81 million. However, Zacks’ consensus was for 6 cents.
Let’s take a deeper dive into the most recent American Software earnings report.
- Adjusted per-share earnings for the quarter are down 56% from 9 cents during the same time last year.
- Revenue for the quarter comes in 11% higher than the $26.27 million reported in fiscal Q4 2019.
- Operating income of $1.59 million is a 57% increase year-over-year from $1.01 million.
- The American Software earnings report also includes a net income of $545,000.
- That’s a 71% decline compared to its net income of $1.87 billion in the same period of the year prior.
Allan Dow, president and CEO of American Software, said this about the earnings.
“We are pleased with our fourth quarter and overall fiscal 2020 performance. In the midst of the economic slowdown resulting from the pandemic and a rapid shift to a virtual work environment, we continued to perform with a strong contract close rate driving 64% growth in Subscription Fees and 16% growth in our professional services revenue.”
American Software doesn’t discuss guidance in its current earnings report. That’s no surprise with the novel coronavirus causing volatility. Many other companies are withholding outlooks during the pandemic.
AMSWA stock was down 14.4% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.