EXHIBIT 99.1
 
FOR IMMEDIATE RELEASE

Financial Information Press Contact:
Vincent C. Klinges
Chief Financial Officer
American Software, Inc.
(404) 264-5477
 
American Software Reports Preliminary Fourth Quarter
and Fiscal Year 2010 Results
  
Fourth Quarter Net Earnings increase 14%
Company Achieves 37th Consecutive Quarter of Profitability
 
ATLANTA (June 23, 2010) American Software, Inc. (NASDAQ: AMSWA) today reported financial results for the fourth quarter of fiscal year 2010, delivering a 14% increase in fourth quarter net earnings, achieving 37 consecutive quarters of profitability and completing 27 consecutive quarters of dividend distributions to shareholders.
 
GAAP net earnings for the quarter ended April 30, 2010 were $1.3 million or $0.05 per fully diluted share, an increase of 14% over the fourth quarter of fiscal 2009. Adjusted net earnings for the quarter ended April 30, 2010, which excludes stock-based compensation expense and acquisition-related amortization of intangibles and expenses related to the Optiant acquisition by Logility, Inc., were $1.7 million or $0.06 per fully diluted share, a 5% increase compared to $1.6 million or $0.06 per fully diluted share for the same period last year, which excludes stock-based compensation expense, acquisition-related amortization of intangibles, and expenses related to the Logility tender offer. Total revenues for the quarter ended April 30, 2010 were substantially unchanged from the fourth quarter of fiscal 2009 at approximately $18.9 million. Software license fees for the quarter ended April 30, 2010 were $3.2 million, a decrease of 34% from the fourth quarter of fiscal 2009.  Services and other revenues for the quarter ended April 30, 2010 were $8.9 million, an increase of 23% from the fourth quarter of fiscal 2009. Maintenance revenues for the quarter ended April 30, 2010 were approximately $6.9 million, a decrease of 1% from the fourth quarter of fiscal 2009. Operating earnings for the quarter ended April 30, 2010 were $1.3 million, a decrease of 25% from the fourth quarter of fiscal 2009.
 
GAAP net earnings were approximately $5.7 million or $0.22 per fully diluted share for the year ended April 30, 2010, an 89% increase compared to $3.0 million or $0.12 per fully diluted share for the prior fiscal year.  Adjusted net earnings year to date as of April 30, 2010, which excludes stock-based compensation expenses, amortization of acquisition-related intangibles, stock-based compensation and other expenses related to the Logility tender offer and expenses related to the Optiant acquisition by Logility, were $7.3 million or $0.28 per fully diluted share, an 83% increase compared to $4.0 million or $0.15 per fully diluted share for the prior fiscal year, which excluded stock-based compensation expenses, amortization of acquisition-related intangibles and expenses related to the Logility tender offer.  Total revenues for the year ended April 30, 2010 were $75.3 million, a decrease of 4% from the prior fiscal year.  Software license fees for fiscal 2010 were $15.5 million, a 4% decrease from the prior fiscal year. Services and other revenues were $32.3 million, a 5% decrease from the prior fiscal year.  Maintenance revenues were $27.5 million, a 2% decrease from the prior fiscal year.  For the year ended April 30, 2010, the Company reported operating earnings of approximately $7.3 million, a 2% increase from the prior fiscal year.

 
 

The following information was filed by American Software Inc (AMSWA) on Wednesday, June 23, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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