American Software Q2 Profit Drops

(RTTNews) - American Software, Inc. (AMSWA) reported GAAP net earnings for the second quarter of $1.2 million or $0.04 per share, a decrease of 68% from $3.69 million or $0.13 per share in the same period last year.

Adjusted net earnings for the quarter were $1.8 million or $0.06 per share compared to $4.0 million or $0.14 per share for the same period last year.

Total revenues for the period were $24.6 million, a decrease of 9% over $26.9 million in the comparable period last year.

Analysts expected the company to report net income of $0.09 per share on revenues of $27.19 million for the period.