American Software (AMSWA) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 216.67%. A quarter ago, it was expected that this enterprise software provider would post earnings of $0.08 per share when it actually produced earnings of $0.08, delivering no surprise.Over the last four quarte ...

ATLANTA--(BUSINESS WIRE)--American Software, Inc. (NASDAQ: AMSWA) today announced that its Board of Directors declared a quarterly dividend of $.11 per share. The dividend is payable to the Company’s Class A and Class B Shareholders of record at the close of business on May 3, 2024, to be paid on or about May 17, 2024. Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through its operating entity Logility, delivers optimized demand, inventory, manufacturing, and supply planning tools – helping to prov ...

ATLANTA--(BUSINESS WIRE)--The Board of Directors of American Software, Inc. (NASDAQ: AMSWA), a leading provider of innovative AI-powered supply chain management and advanced retail planning platforms, announced today that the company’s co-founder, Executive Chairman and Treasurer, James C. Edenfield, has elected to step down from the Board and as the company’s Treasurer, after over 50 years of leadership for the company. Mr. Edenfield submitted a letter of resignation, which the Board accepted today. Mr. Ed ...

FOR IMMEDIATE RELEASE Financial Information Press Contact: Vincent C. Klinges Chief Financial Officer American Software, Inc. (404) 264-5477 Subscription Fee Growth of 9% and Adjusted EBITDA Margin was 16% of revenue from Continuing Operations in Q3 ATLANTA (February 22, 2024) American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the third quarter of fiscal year 2024. During the second quarter of fiscal year 2024 we divested our non-core information technology staffing fir ...

Analysts on Wall Street project that American Software (AMSWA) will announce quarterly earnings of $0.06 per share in its forthcoming report, representing a decline of 53.9% year over year. Revenues are projected to reach $24.12 million, declining 22.2% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a co ...

ATLANTA--(BUSINESS WIRE)--Logility, Inc., the leader in AI-first supply chain planning software, announced VP Business Development, Diane Ngabire, Allan Dow, president of Logility, Inc & Suresh Babu, VP of Supply Chain & Procurement at Great Lakes Cheese, are Food Logistics 2024 Rock Stars of the Supply Chain. This award recognizes the Top 100 influential individuals for distinct categories within the cold food industry. Suresh Babu, Great Lakes Cheese, Lifetime Achievement With over 20 years of experie ...

ATLANTA--(BUSINESS WIRE)--Logility, Inc., a leader in prescriptive supply chain planning software, introduces new functionality to its cloud-based (SaaS) Logility® Digital Supply Chain Platform, designed to elevate visibility into vendor and supplier relationships. New features are available for corporate responsibility, traceability, and vendor management software applications. Many retail and apparel companies face challenges in managing information about all suppliers involved in delivering their prod ...

When the topic of tech stocks comes up, chances are, you’re not really thinking about any underlying dividends. Instead, the top innovators generally tend to be capital-gains-oriented investments. Usually, that’s by design. Companies like Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) need to constantly reinvest their earnings into the business for future advancements or expansions.Still, not all tech stocks abide by the principle of growth at all costs. Many choose to reward their shareholde ...

ATLANTA--(BUSINESS WIRE)--American Software, Inc. (NASDAQ: AMSWA) has determined that certain 2023 distributions are considered to be return of capital (non-dividend) distributions. This tax treatment will affect shareholders’ tax basis in their shares. To assist investors with tax reporting, Form 8937, Report of Organizational Actions Affecting Basis of Securities has been posted on the Investor section of the Company’s website under “Investor Relations.” Shareholders should consult their tax advisors to ...

```markdown Part I—Financial Information [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Unaudited condensed consolidated financial statements for the quarter ended October 31, 2023, including balance sheets, operations, equity, cash flows, and detailed notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $183.7 million as of October 31, 2023, from $195.6 million, driven by reduced cash, while total liabilities and shareholders' equity also saw slight decreases Condensed Consolidated Balance Sheets (in thousands) | Account | October 31, 2023 | April 30, 2023 | | :--- | :--- | :--- | | **Total current assets** | $113,232 | $149,989 | | Goodwill | $46,417 | $29,558 | | **Total assets** | **$183,681** | **$195,620** | | **Total current liabilities** | $48,976 | $57,044 | | **Total liabilities** | **$49,231** | **$57,332** | | **Total shareholders' equity** | **$134,450** | **$138,288** | | **Total liabilities and shareholders' equity** | **$183,681** | **$195,620** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 FY2024 revenues decreased 6% to $25.7 million, with operating income down 52% to $1.2 million, though net earnings rose to $2.4 million due to a gain on discontinued operations Financial Performance (in thousands, except per share data) | Metric | Q2 2023 (3-mo) | Q2 2022 (3-mo) | H1 2023 (6-mo) | H1 2022 (6-mo) | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $25,690 | $27,279 | $51,591 | $54,060 | | Gross Margin | $16,401 | $18,059 | $33,258 | $35,866 | | Operating Income | $1,229 | $2,550 | $2,621 | $4,892 | | Net Earnings from Continuing Operations | $621 | $1,916 | $3,235 | $3,891 | | Earnings from Discontinued Operations | $1,742 | $189 | $1,876 | $278 | | **Net Earnings** | **$2,363** | **$2,105** | **$5,111** | **$4,169** | | Diluted EPS | $0.07 | $0.06 | $0.15 | $0.12 | [Condensed Consolidated Statements of Shareholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders%27%20Equity) Shareholders' equity decreased to $134.5 million for the six months ended October 31, 2023, primarily due to dividends and stock repurchases, partially offset by net earnings and stock-based compensation Changes in Shareholders' Equity (Six Months Ended Oct 31, 2023, in thousands) | Description | Amount | | :--- | :--- | | Balance at April 30, 2023 | $138,288 | | Net earnings | $5,111 | | Stock-based compensation | $3,134 | | Purchases of common stock | ($4,814) | | Dividends declared | ($7,515) | | **Balance at October 31, 2023** | **$134,450** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations significantly improved to $8.1 million for the six months ended October 31, 2023, while investing activities used $23.7 million due to an acquisition, and financing used $12.1 million Cash Flow Summary (Six Months Ended, in thousands) | Activity | Oct 31, 2023 | Oct 31, 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $8,054 | ($11,261) | | Net cash used in investing activities | ($23,697) | ($9,206) | | Net cash used in financing activities | ($12,082) | ($6,261) | | **Net change in cash and cash equivalents** | **($27,725)** | **($26,728)** | | Cash and cash equivalents at end of period | $62,971 | $83,962 | [Notes to Condensed Consolidated Financial Statements – Unaudited](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%E2%80%93%20Unaudited) Notes detail accounting policies and events, including the Garvis AI acquisition for **$25.0 million**, TPM disposal for **$2.1 million**, and TRS sale for **$1.1 million**, with SCM as the dominant segment and a $0.11 quarterly dividend - In September 2023, the company disposed of its IT consulting firm, The Proven Method (TPM), for approximately **$2.1 million** in cash[24](index=24&type=chunk)[69](index=69&type=chunk) - Effective September 5, 2023, the company acquired 100% of Garvis AI Limited, a SaaS startup specializing in AI-native demand forecasting, for approximately **$25.0 million** in cash[60](index=60&type=chunk)[61](index=61&type=chunk) - As of October 31, 2023, the company had remaining performance obligations of approximately **$113.0 million**, with **53%** expected to be recognized as revenue over the next 12 months[36](index=36&type=chunk) - Subsequent to the quarter end, on November 15, 2023, the company signed an agreement to sell its Transportation Rating Solutions (TRS) business for approximately **$1.1 million** in cash[95](index=95&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 FY2024 financial results, noting a 6% revenue decrease, significant operating income decline, strong liquidity, and strategic moves including the Garvis AI acquisition and non-core asset divestitures [Company Overview](index=30&type=section&id=COMPANY%20OVERVIEW) American Software, via Logility, offers a cloud-based, AI-driven supply chain management platform, recognized by analysts, serving approximately **860 clients** across **80 countries** in key verticals, with revenue from subscriptions, licenses, maintenance, and professional services - The company's core SCM business, Logility, is recognized as a leader in multiple 2022 IDC MarketScape reports and positioned in the Challenger quadrant in Gartner's May 2023 Magic Quadrant for Supply Chain Planning Solutions[108](index=108&type=chunk)[109](index=109&type=chunk) - The company serves approximately **860 clients** in about **80 countries**, with a focus on key vertical markets like apparel, food & beverage, and consumer packaged goods[110](index=110&type=chunk) [Comparison of Results of Operations](index=32&type=section&id=COMPARISON%20OF%20RESULTS%20OF%20OPERATIONS) Q2 FY2024 total revenue decreased 6% YoY, driven by declines in license and professional services, despite 8% subscription growth, leading to a 52% drop in operating income to $1.2 million Revenue Comparison (Three Months Ended Oct 31) | Revenue Type | 2023 (in thousands) | 2022 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | Subscription fees | $13,358 | $12,326 | 8% | | License | $229 | $688 | (67)% | | Professional services and other | $4,003 | $5,435 | (26)% | | Maintenance | $8,100 | $8,830 | (8)% | | **Total revenue** | **$25,690** | **$27,279** | **(6)%** | Operating Income by Segment (Three Months Ended Oct 31, in thousands) | Segment | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | Supply Chain Management | $5,835 | $7,646 | (24)% | | Other | ($4,606) | ($5,096) | (10)% | | **Total operating income** | **$1,229** | **$2,550** | **(52)%** | - The decrease in professional services revenue was attributed to lower bookings in recent quarters, resulting in less project work[133](index=133&type=chunk) [Liquidity, Capital Resources and Financial Condition](index=41&type=section&id=LIQUIDITY%2C%20CAPITAL%20RESOURCES%20AND%20FINANCIAL%20CONDITION) The company maintains strong liquidity with **$83.9 million** in cash and investments and no debt, generating $8.1 million from operations while using cash for the Garvis acquisition, dividends, and stock repurchases - As of October 31, 2023, the company had **$83.9 million** in cash and investments with no debt obligations[162](index=162&type=chunk) Key Cash Flow Activities (Six Months Ended Oct 31, 2023, in thousands) | Activity | Amount | | :--- | :--- | | Net cash provided by operating activities | $8,054 | | Purchase of business, net of cash acquired | ($25,032) | | Purchases of common stock | ($4,814) | | Dividends paid | ($7,514) | - Days Sales Outstanding (DSO) improved to **72 days** as of October 31, 2023, compared to **78 days** in the prior year, due to the timing of billings and collections[161](index=161&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency fluctuations, interest rate changes on its investment portfolio, and inflation, with **21%** of revenue from international sources, managing interest rate risk through short-maturity instruments - In the first six months of fiscal 2024, approximately **21%** of revenue was generated outside the United States, exposing the company to foreign currency risk[166](index=166&type=chunk) - The company has no debt and manages interest rate risk on its **$79.5 million** investment portfolio by holding high-credit-quality, short-maturity instruments[167](index=167&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were ineffective as of October 31, 2023, due to a material weakness in process-level controls over account reconciliations, with a remediation plan underway for completion by April 30, 2024 - Management concluded that disclosure controls and procedures were not effective as of October 31, 2023[173](index=173&type=chunk) - A material weakness was identified due to certain process-level controls over the reconciliation of cash, accounts payable, accrued compensation, and cost of revenues not operating effectively[174](index=174&type=chunk) - Management is implementing a remediation plan with enhanced policies and training, which is anticipated to be fully remediated before April 30, 2024[177](index=177&type=chunk) Part II—Other Information [Legal Proceedings](index=45&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no current legal proceedings requiring disclosure - The company reports no current legal proceedings requiring disclosure[179](index=179&type=chunk) [Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors from the fiscal 2023 Annual Report are reported - No material changes to risk factors from the fiscal 2023 Annual Report are reported[180](index=180&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 FY2024, the company repurchased **430,576 shares** of Class A common stock, with 516,056 shares remaining available for repurchase under the authorized plan Issuer Purchases of Equity Securities (Q2 FY2024) | Fiscal Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Aug 2023 | — | $— | | Sep 2023 | 14,807 | $11.47 | | Oct 2023 | 415,769 | $11.18 | | **Total** | **430,576** | | - As of October 31, 2023, the company has repurchased a total of **5,019,208 shares** at a cost of approximately **$30.4 million** under all authorized plans[181](index=181&type=chunk) [Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the Garvis AI Stock Purchase Agreement, CEO and CFO certifications, and XBRL data files ```