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QAD Inc. (Nasdaq: QADA, QADB) announced the registration opening for its global event, QAD Tomorrow, scheduled for May 19. CEO Anton Chilton emphasized the ongoing supply chain challenges faced by manufacturers, worsened by COVID-19. The event aims to educate attendees on managing supply chain risks and enhancing operational efficiency. Registration is free and available until the event date. After the event, attendees will receive an online diagnostic to assess their supply chain preparedness and identify best practices for overcoming challenges.
QAD Inc. (Nasdaq: QADA, QADB) has declared a quarterly cash dividend of $0.072 per share for Class A and $0.06 for Class B common stock. This payment is scheduled for May 5, 2021, to shareholders on record as of April 28, 2021. The Board's decision on future dividends will be based on the company's profitability and liquidity. QAD specializes in cloud-based enterprise software for global manufacturers, serving over 2,000 clients across various industries, helping them adapt to rapid changes and innovate their business models.
QAD Inc. (Nasdaq: QADA, QADB) has announced a partnership with CERAMTECH Consultaria, appointing them as a channel partner in Brazil. This collaboration aims to enhance QAD's market presence and offer adaptive ERP solutions to manufacturing sectors, including automotive and life sciences. CERAMTECH, with over 30 years of experience in industry 4.0, will promote QAD Adaptive ERP to Brazilian companies. This strategic alliance is expected to facilitate growth and transformation within the Brazilian manufacturing industry, fostering innovation and competitiveness.
QAD Inc. (Nasdaq: QADA, QADB) has acquired Foreign-Trade Zone Corporation (FTZ Corp.), a provider of cloud-based FTZ software and consulting services. The acquisition aims to enhance QAD's Precision division by expanding its addressable market and strengthening its trade solutions. While the transaction will not have an immediate material impact on QAD's financial results, it is expected to drive cloud growth among existing customers. FTZ Corp. brings significant expertise and a robust solution in duty management and trade compliance, further benefiting QAD's offering.
QAD Inc. (Nasdaq: QADA, QADB) has announced that Forma Automotive is upgrading to the latest version of QAD Adaptive ERP and deploying it in the QAD Cloud. This move follows a successful implementation at Forma's facility in Guanajuato, Mexico, enhancing its ability to produce more accurate forecasts for manufacturing resource planning (MRP). Forma, a woman-owned tier I supplier to Toyota, will also employ QAD Automation Solutions to streamline inventory transactions, supporting its growth in a complex production environment.
QAD DynaSys has launched the 2021 release of its Digital Supply Chain Planning (DSCP) platform, aiming to enhance agility and resilience in response to 2020's supply chain disruptions. New features include advanced scenario planning, risk opportunity management, and enhanced financial metrics for better decision-making. This platform is designed to support global businesses in optimizing their supply chains, covering aspects like demand planning and integrated business planning. The solutions provided are cloud-based, minimizing hardware management for users.
QAD Inc. (Nasdaq: QADA, QADB) announced enhancements to its QAD Adaptive ERP and QAD Adaptive Applications, aiming to support global manufacturers in adapting to disruptions like the COVID-19 pandemic. These solutions empower manufacturers to be more agile, intelligent, and innovative, enhancing five critical capabilities: effective enterprise management, digital manufacturing, customer management, supplier management, and connected supply chain. The updates include improved CRM and analytics functions, alongside enhanced supplier management following the acquisition of Allocation Network.
QAD Inc. (Nasdaq: QADA, QADB) announced that Stephen Dombroski, Director of Consumer, Food and Beverage Markets, has been recognized as a 2021 Food Logistics Champion: Rock Star of the Supply Chain. This marks his third consecutive year receiving this honor. The award celebrates individuals in the food and beverage sector who have significantly influenced the global food supply chain. Dombroski emphasized the importance of an agile supply chain in ensuring the efficient flow of food during unprecedented disruptions caused by the pandemic.
QAD Inc. (Nasdaq: QADA, QADB) reported its fourth quarter and full year fiscal 2021 results, highlighting total revenue of $83.0 million in Q4, up from $78.6 million year-over-year, largely driven by a 24% increase in subscription revenue. Full-year revenue was $307.9 million, down slightly from $310.8 million. Subscription revenue for the year grew 22% to $131.1 million. GAAP net income jumped to $8.2 million, or $0.39 per diluted Class A share, from $410,000 in the previous year. Guidance for Q1 2022 projects subscription revenue of $36.5 million and maintenance revenue of $26 million.
