Those results might sound familiar, since the third quarter results matched results for the previous quarter, when QAD also reported revenue of $49.6 million and a net loss of $2.3 million.
The third quarter numbers compare with revenue of $50.0 million and a net loss of $10.2 million for the same period of the previous fiscal year 2001.
The company attributed its narrowed year-on-year losses to continued cost containment programs, which resulted in a 9 percent reduction in operating expenses for the 2002 fiscal year to date.
"We continue to prudently manage our balance sheet and maintain our focus on a lean and efficient operating expense structure," said Karl Lopker, QAD's CEO. "Against the background of a demanding business environment, we have nearly tripled our net cash position over the last 12 months."
QAD said it generated cash flow from operations of approximately $1 million in the third quarter, the fifth consecutive quarter of positive cash flow performance.
License revenue nudged up slightly in the third quarter, hitting $14.4 million, or 5 percent increase over the previous quarter and a 3 percent increase over the same period of the previous year.
For the first nine months of fiscal year 2002, the company reported revenue of $150.5 million and a net loss of $6.3 million.
QAD provides enterprise resource planning systems and collaborative manufacturing software.
