SofTech, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended May 31, 2014; Provides Earnings Guidance for the Full Fiscal Year 2015 and First Fiscal Quarter Ended August 31, 2014
October 07, 2014 at 06:09 pm EDT
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SofTech, Inc. reported earnings results for the fourth quarter and full year ended May 31, 2014. For the quarter, the company reported total revenue of USD 0.878 million compared to USD 1.558 million a year ago. Operating loss was USD 0.135 million compared to operating income of USD 0.112 million a year ago. Loss from operations before income taxes was USD 0.161 million compared to USD 0.036 million a year ago. Net loss was USD 0.163 million compared to USD 0.051 million a year ago. Basic and diluted loss per share was USD 0.18 compared to USD 0.05 a year ago. EBITDA was USD 0.059 million compared to USD 0.284 million a year ago.
For the year, the company reported total revenue of USD 5.009 million compared to USD 6.358 million a year ago. Operating loss was USD 0.545 million compared to operating income of USD 0.710 million a year ago. Loss from operations before income taxes was USD 0.746 million compared to income from operations before income taxes of USD 0.375 million a year ago. Net loss was USD 0.748 million compared to net income of USD 0.360 million a year ago. Basic and diluted loss per share was USD 0.85 compared to basic and diluted net income per share of USD 0.35 a year ago. EBITDA was USD 3.094 million compared to USD 1.058 million a year ago.
For fiscal year 2015 outlook and Certain estimated results for the completed first fiscal quarter. Operating budget for fiscal 2015 is for revenue of approximately USD 5 million, a break-even bottom line operating result with EBITDA of about USD 0.400 million.
For the first fiscal quarter ended August 31, 2014, the company estimate operating results of about USD 0.900 million in revenue, a net loss of about USD 0.600 million and EBITDA of about USD 0.400 million.
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.
SofTech, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended May 31, 2014; Provides Earnings Guidance for the Full Fiscal Year 2015 and First Fiscal Quarter Ended August 31, 2014
SOFTECH, INC. 
