Monday, February 9, 2009
QAD Sees Slowdown, Revises Estimates
Santa Barbara-based QAD, which develops enterprise resource planning software for the manufacturing industry, said late Monday evening that it is revising its fiscal 2009 estimates, as it sees a weakening global economy. The firm said that it expects its fiscal 2009 revenues to be between $261M to $263M, down from a prior expectation of $274M to $278M, because of a slowdown in the manufacturing sector. The firm said that global manufacturing companies--its customers--face "significant challenges" related to the economy. As a result, the firm said that its is seeing a pullback or delay in spending, even for the firm's software--which it considers "mission critical" to those firms.