MAM Software Group, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Re-affirms Earnings Guidance for the Fiscal Year 2018
For the six months, the company's net revenues were $17,138,000 against $15,444,000 a year ago. Operating income was $2,350,000 against $1,769,000 a year ago. Income before provision for income taxes was $2,137,000 against $1,527,000 a year ago. Net profit was $1,035,000 or $0.09 per basic and diluted share against $1,463,000 or $0.12 per basic and diluted share a year ago. Net cash provided by operating activities was $3,110,000 against $2,850,000 a year ago. Purchase of property and equipment was $60,000 against $47,000 a year ago. Adjusted EBITDA was $2,864,000 against $2,221,000 a year ago. Capital expenditures, including capitalized software development costs, were $924,000 for the six months of fiscal year 2018, which was net of approximately $200,000 of client-funded portions of development.
For the fiscal year 2018, the company is reaffirming its expectation for revenue growth in the low double digit and on a constant currency basis and guidance for adjusted EBITDA of between $5.5 million and $6 million for the full year.