American Software 1Q rises on licensing gains

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ATLANTA (AP) ? Supply-chain management software maker American Software Inc. said Wednesday that preliminary results showed its first-quarter net income rose thanks to licensing revenue that more than doubled.

Net income in the three months through July 31 rose to $2.3 million, or 9 cents per share, from $1.4 million, or 5 cents per share, a year ago.

Revenue rose 24 percent to $23.7 million from $19.1 million a year ago.

Excluding stock-based compensation costs and the amortization of intangibles, earnings per share came to 10 cents.

Shares rose 61 cents, or 8.2 percent, to close at $8.08 on Wednesday before the results were released.