QAD is warning that its Q2 financial results are going to come up short of what it previously forecast. QAD now expects total revenue for the quarter to come in at $56-57M, down from the $58-61M it previously forecast. The new numbers are about flat compared to the same quarter last year. QAD blames the shortfall on "slightly weaker than expected market and economic conditions."
QAD, best known for its MFG/PRO mid-tier ERP system, is not alone in its weak performance. Most other major vendors, with the notable exception of SAP, are in similar straits.
As of this writing, the market is not taking the news well: QAD is down about 30% from its closing share price yesterday.
Ouch.
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