American Software Inc (AMSWA) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, April 30, 2019

Earnings Press Release
10-K Annual Report
10-K YoY Changes
American Software Inc
Ticker: AMSWA CIK: 713425

Exhibit 99.1

American Software Reports Preliminary Fourth Quarter and Fiscal Year 2019 Results

Subscription Fees Increase 47% for the Quarter and Cloud Services Annual Contract Value Increases 36%

ATLANTA--(BUSINESS WIRE)--June 19, 2019--American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the fourth quarter and for fiscal year 2019.

Key fourth quarter financial highlights:

Subscription fees were $3.8 million for the quarter ended April 30, 2019, a 47% increase compared to $2.6 million for the same period last year, while software license revenues were $1.7 million, a 42% decrease compared to $2.9 million for the same period last year, reflecting our continued transition to the SaaS engagement model.
Cloud Services Annual Contract Value (ACV) increased approximately 36% to $17.3 million as of the quarter ended April 30, 2019 compared to $12.7 million as of the same period of the prior year.
Total revenues for the quarter ended April 30, 2019 were $26.3 million, a decrease of 11% over the comparable period last year.
Recurring revenue streams for Maintenance and Subscription Cloud Services were 56% of total revenues in the quarter ended April 30, 2019 compared to 46% in the same period of the prior year.
Maintenance revenues for the quarter ended April 30, 2019 decreased 1% to $10.8 million compared to $10.9 million for the same period last year.
Professional services and other revenues for the quarter ended April 30, 2019 were $9.9 million compared to $12.9 million for the same period last year.
Operating earnings for the quarter ended April 30, 2019 decreased 59% to $1.0 million compared to $2.5 million for the same period last year.
GAAP net earnings for the quarter ended April 30, 2019 increased 48% to $1.9 million or $0.06 per fully diluted share compared to $1.3 million or $0.04 per fully diluted share for the same period last year.
Adjusted net earnings for the quarter ended April 30, 2019, which exclude non-cash stock-based compensation expense and amortization of acquisition-related intangibles, were $2.7 million or $0.09 per fully diluted share compared to $2.0 million or $0.06 per fully diluted share for the same period last year.
EBITDA decreased by 27% to $3.1 million for the quarter ended April 30, 2019 compared to $4.2 million for the same period last year.
Adjusted EBITDA decreased by 23% to $3.5 million for the quarter ended April 30, 2019 compared to $4.5 million for the quarter ended April 30, 2018. Adjusted EBITDA represents GAAP net earnings adjusted for amortization of intangibles, depreciation, interest (expense)/income & other, net, income tax expense and non-cash stock-based compensation expense.

The following information was filed by American Software Inc (AMSWA) on Wednesday, June 19, 2019 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.

View differences made from one year to another to evaluate American Software Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by American Software Inc.

Continue

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/713425/000162828019008742/amswa-20190430x10k.htm