Atlanta November 20, 2001 Collaborative commerce solution provider Logility this week reported financial results for its second fiscal quarter, ending October 31, with the slender but palpable profit for the period marking the company's third straight quarter in the black.
For the second quarter, Logility earned net income of about $360,000 on total revenues of $6.9 million. The previous quarter, ending July 31, saw net income of $593,000 on revenues of $8.1 million, while in the quarter ending April 30, the company pulled in a profit of $468,000 on revenues of $8.2 million.
The second quarter revenues marked a 4 percent increase over the same period in the previous fiscal year, while the slim profit for the quarter compared to a net loss of about $2.5 million for the previous year.
The second quarter revenue consisted of software license fees of $1.7 million, a 25 percent decrease from the second quarter of the prior year; services and other revenues of $2.4 million, up 26 percent from the same period a year ago; and maintenance revenues of $2.8 million, a 14 percent improvement over the same period last year.
"We are pleased with our revenue growth and, more importantly, Logility's continued profitability given the general market conditions and global economic uncertainty that is impacting capital expenditures and extending sales cycles," said J. Michael Edenfield, Logility president and CEO.
New and existing consumer goods customers placing orders during the second quarter included McCain Foods Limited, Williamson-Dickie Manufacturing Co., New Breed, Stepan Co., Maytag Corp. and Unique Pub Co.
In addition, the HoneyBaked Ham Co., a 300-unit specialty food retailer, recently went live with the Logility Voyager Solutions to reduce inventory and streamline supply chain operations.
Logility reported that it had cash and investments of approximately $21.3 million and no debt.