American Software Reports Preliminary Second Quarter of Fiscal Year 2020 Results
American Software, Inc. - Class A (AMSWA)
Last american software, inc. - class a earnings: 2/20 04:05 pm
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Source: Business Wire
Subscription Fees Increase 64% for the Quarter and Cloud Services Annual Contract Value Increases 55% ATLANTA--(BUSINESS WIRE)--American Software, Inc. (NASDAQ: AMSWA) today reported preliminary financial results for the second quarter for fiscal year 2020.Key Second quarter financial highlights:Subscription fees were $5.5 million for the quarter ended October 31, 2019, a 64% increase compared to $3.3 million for the same period last year, while Software license revenues were $1.0 million, a 48% decrease compared to $2.0 million for the same period last year, reflecting our continued transition to the SaaS engagement model.Cloud Services Annual Contract Value (ACV) increased approximately 55% to $22.4 million as of the quarter ended October 31, 2019 compared to $14.5 million as of the same period of the prior year.Total revenues for the quarter ended October 31, 2019 were $28.2 million, an increase of 1% over the comparable period last year.Recurring revenue streams for Maintenance
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