QAD INC (QADA) [Rocket]

In millions, except per share items	Jan-31-21	Jan-31-20	Jan-31-19	Jan-31-18	Jan-31-17	Jan-31-16	Jan-31-15	Jan-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
North America	155.2	151.1	162.3	141.6	129.4	127.8	129.7	113.9
EMEA	93.4	90.9	97.0	89.7	81.8	84.3	98.3	89.1
Asia Pacific	39.3	46.4	51.6	50.7	47.7	46.5	48.3	46.4
Latin America	19.9	22.4	22.1	23.0	19.0	19.4	18.8	16.9
Total revenues [+]	307.9	310.8	333.0	305.0	278.0	277.9	295.1	266.3
Licensing						29.9	40.9	36.2
Services								71.2
Subscription						59.4	45.4	31.9
Technology services						76.2	84.7	71.2
Revenue growth [+]	-0.9%	-6.7%	9.2%	9.7%	0.0%	-5.8%	10.8%	5.6%
North America	2.7%	-6.9%	14.6%	9.4%	1.3%	-1.5%	13.8%	4.2%
EMEA	2.7%	-6.3%	8.1%	9.7%	-3.0%	-14.3%	10.3%	17.0%
Asia Pacific	-15.2%	-10.2%	1.9%	6.2%	2.8%	-3.8%	4.1%	-4.0%
Latin America	-11.1%	1.5%	-4.0%	21.0%	-1.7%	2.7%	11.8%	-7.7%
Cost of goods sold [+]	125.4	139.9	155.9	149.4	130.9	201.5	213.6	189.1
Cost of services								67.1
Cost of technology services						71.3	77.0	67.1
Cost of licensing						3.6	5.0	5.0
Gross profit	182.5	170.9	177.1	155.6	147.1	76.3	81.5	77.2
Gross margin	59.3%	55.0%	53.2%	51.0%	52.9%	27.5%	27.6%	29.0%
Selling, general and administrative [+]	113.4	121.6	113.5	110.6	99.5	99.2	104.5	98.0
Sales and marketing	71.8	82.1	78.2	75.4	67.2	66.5	69.8	66.0
General and administrative	41.6	39.4	35.2	35.2	32.3	32.7	34.7	31.9
Research and development	56.1	54.7	54.0	47.7	43.6	41.2	42.3	41.2
Other operating expenses	-0.2	2.2			0.7	-74.3	-81.3	-71.3
EBITDA [+]	19.7	-1.5	15.1	2.7	9.4	16.0	21.7	15.5
EBITDA growth	-1406.2%	-110.0%	459.3%	-71.3%	-41.0%	-26.6%	40.5%	-7.9%
EBITDA margin	6.4%	-0.5%	4.5%	0.9%	3.4%	5.7%	7.4%	5.8%
Depreciation	6.5	6.1	5.4	5.4	5.4	5.1	5.1	5.4
EBITA	13.2	-7.7	9.7	-2.7	4.0	10.8	16.7	10.1
EBITA margin	4.3%	-2.5%	2.9%	-0.9%	1.4%	3.9%	5.7%	3.8%
Amortization of intangibles	0.3	0.3	0.1	0.4	0.7	0.7	0.7	0.7
EBIT [+]	12.9	-7.9	9.6	-3.1	3.4	10.2	16.0	9.4
EBIT growth	-262.8%	-182.8%	-411.4%	-191.4%	-66.9%	-36.4%	70.0%	-20.4%
EBIT margin	4.2%	-2.5%	2.9%	-1.0%	1.2%	3.7%	5.4%	3.5%
Non-recurring items [+]	0.2	-2.2
Asset impairment	0.2	-2.2
Interest income, net [+]	0.3	2.2	2.0	0.9	0.0	-0.4	-0.6	-0.5
Interest expense	0.6	0.6	0.6	0.7	0.7	0.7	0.8	0.8
Interest income	0.9	2.8	2.6	1.5	0.7	0.3	0.2	0.3
Other income (expense), net [+]	-2.2	-0.1	0.4	-2.0	0.4	0.8	0.2	1.3
Other	-2.2	0.2	0.4	-2.0	0.4	0.8	0.2	1.3
Pre-tax income	10.8	-3.6	11.9	-4.2	3.8	10.5	15.6	10.2
Income taxes	-0.2	12.3	1.5	4.9	19.3	1.6	2.6	3.8
Tax rate			12.5%		503.8%	15.4%	16.9%	37.1%
Net income	11.1	-15.9	10.4	-9.1	-15.5	8.9	12.9	6.4
Net margin	3.6%	-5.1%	3.1%	-3.0%	-5.6%	3.2%	4.4%	2.4%

Basic EPS [+]	$0.54	($0.80)	$0.53	($0.47)	($0.82)	$0.48	$0.81	$6,386.00
Growth	-167.3%	-249.3%	-212.9%	-42.0%	-271.0%	-40.9%	-100.0%	-3.8%
Diluted EPS [+]	$0.52	($0.80)	$0.49	($0.47)	($0.82)	$0.46	$0.77	$6,386.00
Growth	-164.8%	-262.7%	-203.6%	-42.0%	-278.7%	-40.6%	-100.0%	-3.8%

Dividends per share [+]	$0.28	$0.28	$0.28	$0.28	$0.28	$0.28	$0.28	$5,304.00
Growth	-0.1%	0.1%	0.2%	0.0%	-0.1%	0.9%	-100.0%	-34.3%

Shares outstanding (basic) [+]	20.6	20.0	19.5	19.2	18.9	18.7	16.0	0.0
Growth	3.0%	2.4%	1.9%	1.2%	1.4%	16.5%	1602300.0%	0.0%
Shares outstanding (diluted) [+]	21.4	20.0	21.3	19.2	18.9	19.5	16.8	0.0
Growth	7.1%	-6.0%	11.1%	1.2%	-3.0%	15.9%	1682300.0%	0.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.