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Why American Software Shares Are Falling Today

American Software, Inc. (NASDAQ: AMSWA) shares are trading lower despite reporting better-than-expected fourth-quarter earnings results.

Benzinga · 06/09/2022 12:31

American Software, Inc. (NASDAQ:AMSWA) shares are trading lower despite reporting better-than-expected fourth-quarter earnings results.

American Software reported quarterly earnings of $0.13 per share which beat the analyst consensus estimate of $0.08 and sales of $34.65 million which beat the analyst consensus estimate of $31.30 million.

Allan Dow, CEO and President of American Software, said "With continued strain on the global supply chain, this past year truly underscored the need companies have for more accurate demand forecasting, inventory optimization and resilient sourcing strategies."

American Software Inc develops enterprise management and supply chain-related software and services. Its software and services bring business value to companies by supporting their operations over cloud-based Internet-architected solutions.

The stock was trading about 6.4% lower at $16.81 per share on Thursday at the time of publication.