25.09.2013 16:04:34

MAM Software Group Q4 Profit Down

(RTTNews) - MAM Software Group Inc. (MAMS) reported that net income for the fourth-quarter ended June 30, 2013 decreased to $793,000 from $1.80 million in the same quarter a year ago. Earnings per share were $0.06 versus $0.11 per share last year.

Revenue for the quarter was $7.40 million compared to $7.11 million in the fourth quarter last year, an increase of $292,000 or 4%.

The company also reiterated that that it currently has $2.69 million left on its previously approved stock buyback program, which it intends to use selectively as circumstances and market conditions warrant.

"For the year ending June 30, 2014, we anticipate further investment in our sales, marketing and professional services resources: increasing our marketing department and increasing overall marketing expenditures by approximately $600,000; increasing our sales department by $300,000; and increasing our professional services staff by $550,000. We believe these expenditures will result in increased revenues in fiscal 2014, but will have a negative impact on profits and cash flow. The investments we will make in 2014 should contribute to increased growth and profitability in fiscal 2015," MAM's CEO, Michael Jamieson, said

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