American Software (AMSWA) is up sharply after beating FQ4 EPS estimates in spite of a slight revenue miss.
The Company reported Q4 Non-GAAP EPS of $0.11, $0.05 better than the $0.06 estimate; revenue decreased 2.5% Y/Y to $28.6 million vs. the $28.7 million consensus. Q4 recurring revenue streams for Maintenance and Cloud Subscriptions were 60% of total revenues, compared to 57% in the same period of the prior year.
Cash and investments of approximately $104.7 million, an increase of approximately $10.0 million when compared to April 30, 2020, and no debt as of April 30, 2021
“We are pleased with our fourth quarter and overall fiscal year 2021 performance. In the midst of the economic uncertainty resulting from the pandemic, we exited the year on a strong note with both net new Cloud Services ACV and total bookings more than doubling our prior highs for a quarter,” said Allan Dow, CEO and president of American Software.
“Our performance reflects increasing adoption of cloud-based supply chain transformation solutions and our backlog as measured by our Remaining Performance Obligations (RPO) increased 51% to $116 million in the fourth quarter when compared to last year, which demonstrates the longer-term commitment of our customers to our platform and services. Our pipeline remains robust as we enter our fiscal year 2022 as the current spotlight on supply chain disruption continues to fuel interest in supply chain transformation initiatives.”