MAM Software Group, Inc. reported consolidated unaudited financial results for the first quarter ended September 30, 2017. For the quarter, the company reported net revenues of $8,638,000 against $8,062,000 a year ago. Operating income was $1,527,000 against $1,367,000 a year ago. Income before provision for income taxes was $1,423,000 against $1,247,000 a year ago. Net income was $1,114,000 or $0.09 per basic and diluted share attributed to common stockholders against $1,213,000 or $0.10 per basic and diluted share attributed to common stockholders a year ago. Net cash provided by operating activities was $2,240,000 against $1,410,000 a year ago. Purchase of property and equipment was $42,000 against $24,000 a year ago. Adjusted EBITDA was $1,766,000 against $1,579,000 a year ago. Capitalized software development costs were $630,000 compared to $749,000 for the same period a year ago.

For the fiscal year 2018, the company is reaffirming its expectation for revenue growth in the low double digit on a constant-currency basis and guidance for adjusted EBITDA of between $5.5 million and $6 million for the full year.