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Total net revenue was a record $34.2 million, compared to total net revenue of $30.1 million in the comparable prior-year period.
Recurring revenues (which are comprised of support, maintenance and subscription services) were a record $18.9 million, or 55% of total net revenue, compared to $17.1 million, or 57% of total net revenue, for the same period in fiscal 2018. SaaS revenues increased 27% year over year and comprised 34% of total recurring revenues, compared to 29% of total recurring revenues in the second quarter of fiscal 2018.
Gross margin was 51.9% in the fiscal 2019 second quarter, compared to 51.0% in the prior-year period.
Net loss in the fiscal 2019 second quarter was $(3.8) million, or $(0.16) per diluted share, compared to a net loss of $(3.2) million, or $(0.14) per diluted share, in the prior-year period.
Adjusted EBITDA (non-GAAP) was $2.6 million, compared to Adjusted EBITDA of $2.3 million in the same period last year. As described below, due to a change in software development and deployment methodologies during the quarter, capitalized software development costs were significantly lower compared to the same period last year. If all software development costs were not capitalized in both periods (non-GAAP), then Adjusted EBITDA would have been $2.6 million in the fiscal 2019 second quarter and Adjusted EBITDA in the fiscal 2018 second quarter would have been $(0.2) million (see reconciliation below).
Adjusted earnings from operations (“AOE”) (non-GAAP) in the fiscal 2019 second quarter was $2.0 million, compared to a loss in the fiscal 2018 second quarter of $(1.2) million (see reconciliation below).
The following information was filed by Agilysys Inc (AGYS) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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