About American Software, Inc.
"During fiscal year 2016, we welcomed 54 new customers, signed license agreements with customers in 16 countries, continued our aggressive investment in research and development, and continued expanding our global presence," said Edenfield. Cosmetics, Jenny Yoo Collections, Le Creuset, Mount Franklin Foods, Outdoor Voices, and Zevia. During the quarter, software license agreements were signed with customers located in the following nine countries: Australia, Canada, Finland, Japan, Mexico, Sweden, Switzerland, the United Kingdom, and the United States. Logility Inc., a wholly owned subsidiary of the Company, announced Shelley Kiley, vice president global supply chain and global distribution and logistics at Moen, North America's 1 faucet brand, was named a Supply Demand Chain Executive 2016 Pros to Know. Ms. Kiley was selected from more than 350 nominations submitted for the 16th annual listing and is recognized for helping Moen improve its supply chain planning capabilities, ensure product availability and service commitments, and improve working capital efficiency through the use of Logility Voyager Solutions. NGC Software, a wholly owned subsidiary of the Company, announced Brian Brothers, developers of the popular urban menswear brand Jordan Craig, is implementing NGC's fashion PLM and Supply Chain Management (SCM) system. Brian Brothers turned to NGC Software to help improve their speed to market and communication with partners. During the quarter, NGC Software announced Canada Goose Inc., a rapidly growing manufacturer of luxury apparel, is implementing NGC's Extended PLM, which combines fashion PLM and Supply Chain Management (SCM) into a fully integrated, end to end solution. C Mexico, a fast fashion retailer, selected NGC Software's fashion PLM system. NGC's software will allow C Mexico to improve speed to market and overall productivity, enabling C to quickly deliver the newest styles to its customers. NGC Software announced Jenny Yoo Collection selected the company's fashion PLM and apparel ERP solutions. Jenny Yoo will use NGC's apparel software to manage its popular bridal and bridal party designs found in leading department stores, including Nordstrom and BHLDN, and specialty stores around the world. Xcel Brands, a leader and innovator in the acquisition, design, production, licensing, marketing, and retail sales of consumer brands such as Isaac Mizrahi, Judith Ripka, H Halston, and C. Wonder, selected NGC Software's Global Enterprise Suite, a fully integrated suite including fashion PLM, apparel ERP and supply chain management.
Atlanta based American Software (NASDAQ: AMSWA) provides demand driven supply chain management and enterprise software solutions, backed by more than 40 years of industry experience, that drive value for companies regardless of market conditions. Logility, Inc., a wholly owned subsidiary of American Software, is a leading provider of collaborative supply chain optimization and advanced retail planning solutions that help medium, large, and Fortune 500 companies realize substantial bottom line results in record time. Logility Voyager Solutions is a complete supply chain and retail optimization solution suite that features an advanced analytics architecture and provides supply chain visibility; demand, inventory and replenishment planning; Sales and Operations Planning (S Integrated Business Planning (IBP), supply and inventory optimization; manufacturing planning and scheduling; retail merchandise and assortment planning and allocation; and transportation planning and management. Logility customers include Abercrombie Fitch, Big Lots, Parker Hannifin, Verizon Wireless, and VF Corporation. Demand Management, Inc., a wholly owned subsidiary of Logility, delivers affordable, easy to use software as a service (SaaS) supply chain solutions for manufacturers and distributors designed to increase forecast accuracy, improve customer service levels, and reduce overall inventory to maximize profits and lower costs. Demand Solutions DSX offers demand planning, collaborative forecasting, inventory planning, production planning and scheduling, S and IBP. New Generation Computing (NGC), a wholly owned subsidiary of American Software, is a leading provider of PLM, supply chain management, ERP, and shop floor control software and services for brand owners, retailers and consumer products companies. NGC customers include AX Armani Exchange, Aeropostale, Billabong, Carter's, Destination XL, Hugo Boss, Jos. A. Bank, Marchon Eyewear, Spanx, Swatfame, VF Corporation, and many others. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions, technology and the market for the Company's products and services, including economic conditions within the e commerce markets; the timely availability and market acceptance of these products and services; the Company's ability to satisfy in a timely manner all SEC required filings and the requirements of Section 404 of the Sarbanes Oxley Act of 2002 and the rules and regulations adopted under that Section; the challenges and risks associated with integration of acquired product lines and companies; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's current Form 10 K and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., (404) 264 5477 or fax: (404) 237 8868.
Company Technology During the quarter, Logility announced the company was positioned the highest for Ability to Execute in Gartner's Magic Quadrant for Supply Chain Planning System of Record. This Magic Quadrant report analyzed the market for the foundational planning layer of supply chain planning that supports the integrate maturity stage (Stage three out of five stages) of demand and supply planning processes today and in the future. Nucleus Research positioned Logility a Leader in its Inventory Optimization Value Matrix 2016. The distinction is based on Nucleus Research's usability and functionality evaluation of Logility Voyager Solutions. The report highlights several key differentiators and Logility was praised for its advanced functionality, mathematical openness and extensive built in analytics. Logility announced the opening of offices in Dusseldorf, Germany, Malmo, Sweden, Sao Paulo, Brazil, and Cheap Men Canada Goose Citadel Parka Brown Nz Sydney, Australia. The expansion is the company's response to increasing worldwide demand for Logility Voyager Solutions and supply chain optimization services, and allows Logility to provide additional localized support and service to help companies around the world improve their supply chain performance. Bill Harrison, president of Demand Management, a wholly owned subsidiary, presented at the Gartner Supply Chain Executive Conference on "Moving Supply Chain to the Cloud: Preparing Now for Supply Chain's Next Big Shift." During the quarter, Microsoft certified Demand Solutions DSX as SQL Server 2014 Certified. Additionally, Demand Management continues as a Microsoft Gold Application Developer. Logility was named by Consumer Goods Technology magazine as a 2016 Readers' Choice recipient. The award is based on a survey of consumer goods executives who were asked at the end of 2015 to identify and rank their satisfaction with the solutions or services they currently use. This marked the 16th consecutive year Logility has been recognized as a leading provider of supply chain solutions to the consumer goods industry. Logility announced Food Logistics magazine selected the company for the 12 th consecutive year for inclusion in its annual FL100, a recognition of the top 100 technology providers for the food and beverage industry. Logility was recognized for its proven track record of helping companies reduce their supply chain costs, drive enhanced visibility and profitably grow their business. During the quarter, Logility and Demand Management were selected by industry publication Inbound Logistics as a Top 100 Logistics IT Provider for 2016. This is the 19 th consecutive year for Logility and the sixth year for Demand Management to recognized by Inbound Logistics for helping companies solve their complex supply chain challenges and fast changing transportation needs. Allan Dow, president of Logility and Mark Burstein, president of sales, marketing and R of NGC Software were named 2016 Pros to Know by industry publication Supply Demand Chain Executive. The Pros to Know award recognizes an elite group of professionals, chosen from more than 350 applicants, who have helped shape the supply chain industry and elevate the role of supply chain within the enterprise.
American Software Reports Preliminary Fourth Quarter And Fiscal Year 2016 Results
The overall financial condition of the Company remains strong, with cash and investments of approximately $77.9 million and no debt as of April 30, 2016. During the fourth quarter and fiscal 2016, the Company paid approximately $2.9 million and $11.5 million in dividends, respectively. On May 12, 2016, we announced that its Board of Directors declared a quarterly dividend of $0.11 per share, which represents a 10 percent increase over the previous quarterly dividend rate of $0.10 per share. The dividend is payable to the Class A and Class B Common Shareholders of record at the close of business on August 5, 2016. The dividend will be paid on or about August 19, 2016.
"Fiscal year 2016 achieved growth across all revenue streams. During the fourth quarter of fiscal 2016, we grew license revenue by 30% and total revenues by 5% which increased operating earnings by 13% compared to the same period of the prior year," said Mike Edenfield, president and CEO of American Software. "With more customers leveraging our cloud services and software as a service (SaaS) offerings to accelerate their deployments and enhance their operations, we are pleased to report significant 37% quarter over quarter increase in Cloud Services Annual Contract Value (ACV).