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American Software profit misses consensus by 18.8% in fiscal Q3

American Software Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to 7 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS climbed 11.7% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.9 million, a gain of 13.8% from $1.7 million in the prior-year period.

The normalized profit margin climbed to 7.0% from 6.4% in the year-earlier period.

Total revenue grew on an annual basis to $27.1 million from $25.8 million, and total operating expenses rose from the prior-year period to $24.6 million from $23.5 million.

Reported net income decreased 28.6% year over year to $2.0 million, or 7 cents per share, from $2.9 million, or 10 cents per share.