MAM Software Group, Inc. announced unaudited consolidated earnings results for the first quarter ended September 30, 2018. For the quarter, the company reported net revenues of $9,300,000 compared to $8,638,000 a year ago. Operating income was $1,605,000 compared to $1,527,000 a year ago. Income before provision for income taxes was $1,514,000 compared to $1,423,000 a year ago. Net income was $1,211,000 compared to $1,114,000 a year ago. Earnings per basic and diluted share attributed to common stockholders were $0.10 compared to $0.09 a year ago. Net cash flow provided by operating activities was $997,000 compared to $2,240,000 a year ago. Purchase of property and equipment was $30,000 compared to $42,000 a year ago. Capitalized software development costs were $416,000 compared to $630,000 a year ago. Adjusted EBITDA (Non-GAAP) was $1,912,000 compared to $1,766,000 a year ago.

For the fiscal year 2019, the company reiterates revenue growth of approximately 10% and continuing improvement in profitability with 2019 Adjusted EBITDA in the range of $6.2 million to $6.7 million, on a constant currency basis. The company also expects to invest approximately $7.0 million in Research and Development, including capitalized software development costs.