SofTech, Inc. Announces Earnings Results for the Fourth Quarter and Fiscal Year Ended May 31, 2015
September 01, 2015 at 08:32 am EDT
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SofTech, Inc. announced earnings results for the fourth quarter and fiscal year ended May 31, 2015. For the fourth quarter, the company generated revenue of approximately $1,126,000 as compared to $879,000 in the same period in fiscal year 2014, an increase of about 28%. The net loss was approximately $12,000 or $0.01 per basic and diluted share as compared to a net loss of $657,000 or $0.75 per basic and diluted share for the same period in fiscal 2014. EBITDA was $69,000 as compared to negative EBITDA of $496,000 during the same period in fiscal 2014. Operating income was $14,000 compared to loss of $628,000 a year ago. Loss from operations before income taxes was $10,000, compared to $655,000 a year ago.
For the year, total revenue was $3,942,000, compared to $5,009,000 a year ago. Operating loss was $1,038,000, compared to $528,000 a year ago. Loss from operations before income taxes was $1,317,000, compared to $746,000 a year ago. Net loss was $1,319,000 or $1.48 per basic and diluted share, compared to $748,000 or $0.85 per basic and diluted share a year ago. Negative EBITDA was $608,000, compared to EBITDA of $3,094,000 a year ago.
SofTech, Inc. is engaged in the development, marketing, distribution and support of computer software solutions that enable companies to manage the lifecycle of their products from conception through design and manufacture, to service and disposal. The Company's service offerings include consulting, training and discrete engineering services. These solutions include software technology offerings for computer aided design (CAD), and product data management (PDM) and collaboration technologies. In addition, the Company offers a technology platform that allows data exchange between various third party technology offerings known as the Company's connector offering. The Company's products include ProductCenter, Connector Platform, HomeView and CADRA. The Company operates in the United States and Europe and has sales and customer support offices in the United States and Italy. The Company also operates through re-sellers in North America, Europe and Asia.