Exhibit 99.2
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
Page 1
AMSOFT
THIRD QUARTER 2005 FISCAL YEAR RESULTS
MARCH 03, 2005
4:00 PM CT
Conference Coordinator: Good day. All sites are now on the conference line
in a listen-only mode.
If anyone should require any assistance during the
call today, please press star and 0, and an operator
will be standing by to help you.
At this time, I would like to introduce Vincent
Klinges, CFO of American Software.
Please go ahead.
Vincent Klinges: Good afternoon. Welcome to the Third Quarter Fiscal
2005 American Software Conference Call.
To begin, I'd like to remind you that this
conference call may contain forward-looking
statements including statements regarding among
other things, our business strategy and growth
strategy. Any such forward-looking statements speak
only as of this date.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
Page 2
These forward-looking statements are based largely
on our expectations and are subject to a number of
risks and uncertainties, some of which cannot be
predicted or quantified and are beyond our control.
Further developments and actual results could differ
materially from those set forth in, contemplated by,
or underlying the forward-looking statements.
There are number of factors that could cause actual
results to differ materially from those anticipated
by statements made on this call. Such factors
include but are not limited to changes in general
economic conditions, the growth rate of the market
for our products and services, the timely
availability and market acceptance of these products
and services, the effect of competitive products and
pricing, and the irregular pattern of revenues.
In light of these risks and uncertainties, there can
be no assurance that the forward-looking information
will prove to be accurate.
At this time, I'd like to turn the call over to Jim
Edenfield, CEO of American Software.
James Edenfield: Good afternoon, ladies and gentlemen.
I hope by now that each of you have received the
press release of our earnings announcement for the
third quarter which ended January 31.
We have had to issue a subsequent modifying
announcement. A press release that you, I don't
believe, would have received yet. You may receive it
during the course of this conference.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
Page 3
I think it's important that I read this press
release to you before we get into the details of the
conference.
This is what the press release that you will see in
a few moments says:
The management of the companies have been notified
by their auditors that $290,000 of revenue included
in the financial results for the period ending
January 31, 2005 were subject to further review
prior to finalization of each company's 10Q filings.
If the revenue is recognized in a later quarter,
then the earnings per share as stated in the
announcement for American Software would be reduced
by approximately 1 cent per share and the earnings
per share as stated in the Logility announcement
would be reduced by approximately 2 cents per share.
I'm now going to proceed, and we're going to proceed
with the conference that we had originally planned
to conduct based upon the press release that you
should have in hand at this time, not the one that I
have just read.
This was the third consecutive quarter that total
revenues increased over those obtained in the
previous year.
For the quarter, they were up 21% and for the
year-to-date, 12%. We like the trend.
We're also pleased that we were able to increase
every revenue category during the third quarter:
license fees, services, and maintenance.
New Generation Computing, our subsidiary focus on
the apparel, and retail industries continue to make
good progress during the quarter.
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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Our major highlight was the licensing of our global
sourcing product, The VF Corporation, the largest
apparel manufacturer in the world, were used in all
of their divisions worldwide.
As manufacturing continues to leave the United
States, our product will enable VF to enhance its
competitive position as it sources production from
hundreds of manufacturers in Asia and Latin America.
Service revenues continue to rapidly increase in our
consulting and staffing business. We believe that
this is partly due to an improving economy.
Many analysts believe that this phenomenon is a
precursor to growth and technology capital
expenditures.
That is true, then we would expect to see
double-digit growth in license fees which yield a
much higher profit margin than services.
The third quarter marked the first real quarter of
operations which included our recent acquisition of
Demand Management. Considerable effort was expanded
in integrating their operations into Logility.
Mike Edenfield, the President of Logility, is now
going to update us on Logility including Demand
Management.
J. Michael Edenfield: Thank you.
Good afternoon everyone.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
Page 5
We're pleased with Logility's third quarter results.
The key highlights for the quarter were strong
operating cash flow with almost $3 million, and the
fact that we added 21 new customers who license
either the Logility Voyager product line or the
Demand Solutions product line.
Some of the notable new and existing customers
included Brown Shoe Corporation, (EE) Corporation,
Hooker Furniture, (Hyundai) Motor Australia, Johnson
Brothers, Kentucky Derby Hosiery, (Parker Hunniton),
(Socks), and a major household consumer products
company, whose name we cannot disclose at this time.
We are encouraged by the number of new customers
licensing our products because that is a healthy
sign for the future.
Our strong financial position continues to be a
competitive advantage against our primary
competitors.
Regarding fourth quarter, we believe our pipeline
activity is sufficient to have another good quarter,
but as usual, closure rates will be key.
While we are expecting maintenance and services
revenues to increase this quarter, we must improve
license fees to accomplish our growth and
profitability objectives.
Regarding our progress with Demand Management, we
continue to be pleased with the acquisition and the
performance of the company so far. Due to the fair
valuing of the acquired deferred maintenance
revenues, the acquisition has temporarily diluted
our earnings as we expected.
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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However, Demand Management had a strong operating
cash flow contribution for the quarter of
approximately three quarters of a million dollars.
I'd like to give a quick overview of Demand
Management or DMI in case there is some on the call
that are not familiar with them or the acquisition.
DMI was a privately held company based in St. Louis
specializing in supply chain planning solutions.
They're almost a $10-million a year company in terms
of revenues with about 30 people. And a significant
indirect channel of 23 organizations with
approximately 67 people who sell, install, and
implement their solutions worldwide.
Their products, which are marketed under the Demand
Solutions' One brand, are being used by several
thousand users in at least 30 countries around the
world, (that) over 800 customers paying maintenance
on an annually renewable basis.
Logility has owned DMI for about five months, and we
are very pleased with the acquisition as I stated
earlier. I'd like to summarize what we see as the
(method) to the acquisition.
The first two benefits relate to expanding our
market coverage.
We can now address a broader market segment.
Traditionally, Logility has been focused on the
upper mid-tier and higher end of the market in terms
of size of the enterprise we sell to.
DMI has been traditionally focused more on the
mid-tier and smaller end of the market.
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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Combined, we now have the ability to service from a
$25-million enterprise to a Fortune 100 enterprise.
We believe this gives us more market coverage than
any supply chain planning vendor both from a size of
the enterprise we are selling to perspective as well
as a price point perspective.
Second, is the addition of the DMI indirect sales
channel. As I mentioned earlier, they have 23 (rep)
organizations around the world that sell, implement,
and support the DS One product line.
So combined, we've more than doubled our coverage
with the addition of this indirect channel. It also
gives us coverage in international markets we did
not have a presence in such as Australia, New
Zealand, South Africa, and it more than doubles our
European presence.
To illustrate this, in the third quarter, we
licensed one or more of our solutions in 11
different countries: Australia, Brazil, Canada,
China, Germany, Indonesia, Ireland, Mexico, New
Zealand, the United Kingdom, and the United States.
The (30) benefit that increases our market share
substantially in the supply chain planning space -
DMI has a large and satisfied installed base of over
800 maintenance-paying customers. We believe this
makes us Number 1 in implementing supply chain
systems in the world with over 1,100 combined
maintenance-paying customers.
Our maintenance revenue is already increasing as a
result of the transaction, and we expect maintenance
revenues to continue to increase for at least the
next few quarters.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
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The final two benefits I would like to discuss are
the cost and revenue synergies.
From a cost synergy perspective, we've already
started to realize most of the seven-figure savings
we expected from the transaction. We will be getting
the full benefit of these by the spring.
As we discussed on the last call, the biggest saving
area has been the consolidation of three product
development organizations down to two.
The most exciting opportunity, however, is the
revenue synergy potential. Both channels will
continue to go after their respective target markets
with their respective brands, independently.
However, we believe by cooperating where
appropriate, one plus one can be greater than two.
For example, the DMI sales organization has already
provided some qualified leads to the Logility sales
organization of opportunities in and out of the DMI
customer base that Logility was not aware of.
We have put in place the proper incentive programs
to ensure that happens when appropriate. And in
fact, we have closed some incremental business
already as a result of this.
Secondly, Logility's marketing efforts now routinely
identifies accounts that are not necessarily good
prospects for the Logility sales organization
because they have smaller enterprises who might
desire a lower price point. However, they are good
prospects for DMI.
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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As we mentioned on the last call, in one campaign
alone, we produced 400 leads for the DMI sales
channel at no additional expense. So the key
objective will be to continue to identify areas such
as these when we can leverage the two sales and
marketing organizations to find and sell more
opportunities in the two companies (did) separately.
So in summary, we've already seen benefits from the
acquisition in terms of broader and deeper
geographic sales coverage, increased maintenance
revenues, cost reductions (where more to follow),
and tangible revenue synergies.
Now I'd like to turn the discussion back to Vince
for a detailed review of the third quarter financial
results.
Vincent Klinges: Thanks, Mike.
Comparing the third quarter '05 with the same period
in last year, total revenues for the quarter
increased 21%, 17.7 million compared to (14.6)
million for the same quarter last year.
License fees increased 6% to 4.1 million compared to
3.8 for the same period.
Services and other revenue increased 36% to 8.5
million compared to 6.3 million primarily due to the
increase in our IT staffing business.
Maintenance revenues increased 11% to 5.1 million
compared to 4.5 million primarily due to increases
in Logility from Demand Management.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
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The overall gross margin was 49% for the quarter
compared to 54% at the same quarter last year.
Drilling down on that, the license fee margin was
67% compared to 71% due to more license fees from
DMI which has an indirect (large) channel.
Services margin improved to 30% this quarter
compared to 28% due to better margin business from
our IT staffing business.
Our maintenance margin this quarter were 66%
compared to 75% for the same quarter last year. And
this is lower primarily due to the AMI - the DMI
acquisition and the GAAP purchase accounting
required to fair value its deferred maintenance,
which temporarily lowers the maintenance revenue for
GAAP reporting.
Taking a look at operating expenses, the gross R&D
expenses were 11% of total revenues for the current
quarter compared to 13% for the same quarter last
year.
As a percentage of revenue, sales and marketing
expenses were 19% of revenues or 3.3 million for the
quarter and that compares to 20% for the same
quarter last year.
G&A expenses were 3.1 or 17% total revenues which
was the same percentage as last year.
(Unintelligible) operating income we're reporting is
821,000 for this quarter compared to 1.5 million for
the same quarter year ago.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
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Our EBITDA was 1.8 compared to 2.9 in the same
period year ago. Our GAAP net income was 1.4 or
earnings per diluted share of 5 cents per share for
the third quarter and that compares to the net
income of 2.1 million or earnings per share of 8
cents for the same period last year.
Adjusted net income which excludes DMI's loss for
the quarter was 2 million or 8 cents per share for
the third quarter.
International revenues this quarter were
approximately 7% of total revenues and that's the
same as the third quarter last year, 7%.
Taking a look at the nine months ended January 31,
2005 compared to the same period last year, total
revenues increased 12% to 46.2 million and that
compares to 41.3 million.
License fees were 9.2 million compared to 9.4.
Services revenue were 23% - 23 million year-to-date
compared to 18.2. Maintenance revenues were 14.1
million year-to-date compared to 13.6.
Looking at the gross margin, the overall gross
margin was 49% year-to-date compared to 54%.
License fee margin increased slightly to 66% from
65. Services margin were 30% compared to 32% same
period last year.
And our maintenance margins were 70% when compared
to 74%.
Looking at operating expenses, our gross R&D
expenses were 12% of revenues for the nine months
ended January compared to 14% for the same
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
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period last year. As a percentage of total revenue,
our sales and marketing expenses were 20% for both
this fiscal year year-to-date and last year also.
G&A expenses were 17% of revenues for both periods
also.
And our operating income year-to-date is 2.2 million
compared to operating income of 3.5 million last
year.
Net Income year-to-date is 4 million or 16 cents
earnings per share and that compares to 5.5 million
or 22 cents earnings per share last year.
International revenues year-to-date are 6% of
revenue compared to 7% last year.
Looking at the balance sheet, our - the company's
cash - financial position remained strong with cash
and investments of approximately 56.9 million at the
end of the third quarter and no debt.
Cash increased 1.9 million sequentially from the
prior quarter that ended October 31, 2004. And
during the quarter, we've paid 1.7 million of
quarterly dividend also.
Other aspects of the balance sheet, our billed AR is
11.2 million; unbilled, 2.9. Working capital is 49.2
million. And our deferred revenue is 13.1 million.
Stockholder equity is 76.2.
Our current ratio is 3.2. And our Days Sales
Outstanding is approximately 76 days.
At this time, I'd like to turn the call over to
questions.
AMSOFT
Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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(Sarah)?
Conference Coordinator: If you would like to ask a question, please press
star and 1 on your touchtone phone.
To withdraw your question from the queue, press the
pound key.
Once again, to register your site for a question,
please press star and 1 on your phone at this time.
And first, we'll go to the site of Patrick Flavin
with Flavin, Blake & Co.
Patrick Flavin: Good afternoon, gents.
James Edenfield: Good afternoon.
Man: (Okay).
Patrick Flavin: Vince, could you address the income tax provision
for the quarter which has typically not occurred in
the past?
Vincent Klinges: Sure, Pat.
Actually coming into this current fiscal year, we
had 13 million of net operating losses. However, 8.
- (approximately) the 8.5 million and 9 million of
that are related to stock option, NOLs, which
actually when you utilize those NOLs, they go right
to the equity section and not (dunk its) credit to
the P&L.
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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So from a purely GAAP P&L basis, we have coming into
fiscal '05 about $4 million to $5 million worth of
NOLs. And we're forecasting that we're going to
basically utilize those NOL, and we have to make a
kind of a tax provision accrual at this point to
reflect that.
And I'd like to point out that next year, we're
probably had to have a full tax - effective tax
provision next year in '06 also.
But having said that, we're not going to have to
(tell) you the government until we burned through
the full $13 million worth of NOLs.
Is that explain it?
Patrick Flavin: Yes, it did. Now, the basically 20% rate for the
quarter, is that the rate that will apply in the
fourth quarter as well?
Vincent Klinges: It depends on how the projection for the fourth
quarter turns out. So, it's probably will be
similar, yeah.
Patrick Flavin: Okay. And then for next year (and a fully) - well,
what's your saying is next year is still not going
to be a paying year until you burn through the rest
of the NOLs?
Vincent Klinges: Right, but we will be booking a tax provision which
will probably be close to the normal tax provision
percentage which is close to 37%.
Patrick Flavin: Which is closed to what?
Vincent Klinges: Thirty-seven percent which is what you expect.
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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Patrick Flavin: Okay, so we would be looking at a 37% tax rate for
next year?
Vincent Klinges: Yeah.
Patrick Flavin: And then finally, could you address the increase in
deferred revenues for the quarter?
Vincent Klinges: Yeah. That's primarily due to DMI and the additional
maintenance billing that we're now doing right now
for them.
Patrick Flavin: Okay, thank you.
Conference Coordinator: Thank you.
Once again, if you would like to ask a question,
please press star and 1 on your phone at this point.
And next we'll go to the site of Sam Robotsky with
SCR Asset Management.
Sam Robotsky: Yeah, good afternoon gentlemen.
I'm - in looking at the license revenues on the
American Software, they - in the current quarter,
they increased about 237,000 but the cost increased
232,000.
Could you talk about you - you know, are you not
making money on new license revenue? Could you talk
about that?
Vincent Klinges: Yeah. I think what's happening is with the new DMI
acquisition, the DMI acquisition is primarily a
(bar) channel. And that valuated channel, they get a
AMSOFT
Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
Page 16
higher commission than an indirect sales channel
would. So, as we sell more licenses through that
channel, the cost of licenses would go up higher.
Sam Robotsky: So the inference is that you have additional license
revenue from the new acquisition and reduction in
the licenses from your previous products?
Vincent Klinges: That's correct. The mix is different this quarter
that it has been in the previous quarters, yeah.
Sam Robotsky: You spoke of a three quarters a million dollars from
- contributed by DMI, so is that the number that
we're talking about basically that was increased?
Vincent Klinges: No, that was the cash flow number.
Sam Robotsky: Okay, okay.
I guess, you know, also I guess the general and
administrative, I guess that's on Logility has
increased substantially, is there any unusual - is -
was that anything related to the acquisition?
Vincent Klinges: No, no, that's - and basically this is the first
full quarter we had the DMI operations inside our
reporting. So, typically you would see that in the -
yeah, when you have a new acquisition compared to
last year, you know, the...
Sam Robotsky: Okay.
Vincent Klinges: ...cost increases...
Sam Robotsky: Okay.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
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Vincent Klinges: ...(so typical).
Sam Robotsky: Now, Demand, you know, being based in St. Louis, do
they do business with a lot of people with May
Department Stores or people that sell to May
Department Stores and have you given any thought
whether an acquisition by federated will have a
negative impact on this company?
James Edenfield: We don't think that they are a customer of ours. So,
I don't believe that it would have any impact
whatsoever.
Sam Robotsky: Or would you have customers that basically sell to
May Department Stores?
James Edenfield: Sure, we do.
Sam Robotsky: Yeah.
I mean if federated sort of bring some of the stuff
to Cincinnati, would that might have a negative
impact?
James Edenfield: I don't see how it would.
Sam Robotsky: Okay, okay.
And the item that you referred to in the beginning,
this potential, you know, reduction of the license
number to a subsequent quarter, then whatever profit
would have been in this quarter that would in
essence be moved to the subsequent quarter in just a
period of when the income would be picked up?
James Edenfield: Well that's correct, and I'd also like to point out
that this one contract, it's legally binding. The
customer has already paid the money. And I don't
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Third Quarter 2005 Fiscal Year Results
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03-03-05/4:00 pm CT
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believe that - should we have to move it out of
quarter or so, I don't believe that it would impact
our balance sheet at all since they've already paid.
Sam Robotsky: And have you been active in buying any stock in the
current quarter for either American Software or
Logility, and how many shares if you did?
James Edenfield: We did not buy any for either company.
Sam Robotsky: Okay, good.
All right, hopefully, you got - you continue to
improve your license fees with better profit margins
going forward.
James Edenfield: We certainly are going all out to accomplish that.
Sam Robotsky: Okay, good luck.
James Edenfield: Thanks.
Conference Coordinator: Once again, to ask a question, please press star and
1 on your touchtone phone now.
And we'll pause for any last questions to register.
And next we'll go to the site of (Benny Lorenzo)
with (Aspira) Capital Management.
(Benny Lorenzo): Thank you very much.
Just a general question.
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Does this still make sense to have Logility and
American Software as two separate companies given
the consolidation in the software business and the
need for scale and the cost associated with how
these two separate entities?
James Edenfield: I think that there's - that's a question that is
always in our minds, and that everything is on the
table either to kind of leave it like it is or to do
something different. Everything is on the table.
No decision has been made to change the way that
it's presently set up.
In the past, we've done cost analysis to try to
determine, you know, what the administrative savings
would be if we only have one public company. And
generally, they didn't seem to - the number didn't
seem to be as much as you probably would think it
would be.
However, with Sarbanes-Oxley, it could be that that
number is going to increase dramatically and which
case, that would - you know, it may be another
reason to do what you said.
(Benny Lorenzo): That's what I was thinking of because the cost will
escalate, and maybe I'm looking for how - to have a
sort of more scales or, hopefully, you'll see a way
through that.
Another question...
James Edenfield: One point, I don't think it would change the scale.
In other words, we consolidate - American Software
consolidates Logility's sales and profits and
expenses, so I don't quite see how it would change
the scale. Change the scale of Logility since it
would go to zero.
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(Benny Lorenzo): Right.
A different question, in terms of your - as you have
the company, as you envision it going forward, what
kind of an operating margin opportunity does the
company have long term?
Because software companies usually have 15%, 20% or
higher operating margins, is this company, the way
it's - you know, the way your revenue mix is and the
way you're doing the acquisitions have that kind of
opportunity?
James Edenfield: It has the opportunity for very good margins if we
get the right mix of license fees with the - and
within the overall mix and that is the opportunity
that - one of the opportunities that we have.
For example, our growth in license fees this year -
this fiscal year has not kept pace with our growth
in services and our growth in maintenance. And part
of that, we believe is because of companies not
having as large CAPEX budgets as we would like for
them to have. And we aren't the only software
company that's impacted in this regard.
Our direct competitors have suffered much more than
we have. But we have - we are hoping for better
times and we're hoping for better execution and I
think we will get both.
(Benny Lorenzo): I think (that) you've done a great job because you
managed to remain profitable throughout this whole
tough time.
So I appreciate it, thank you very much.
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James Edenfield: Thank you.
Conference Coordinator: Thank you.
Next, we'll take a question from the site of Ron
Chez with PI.
Ronald Chez: I'm sorry that I missed a part of this, and could
you tell me the - good afternoon, by the way.
James Edenfield: Good afternoon, Ron.
J. Michael Edenfield: Hi, Ron.
Ronald Chez: And I missed the breakout in license fees for
American Software and Logility.
Vincent Klinges: Yeah, Ron. This is Vince.
For the third quarter, the total license fees were
4.1 million, and Logility was 2.7 of that.
Conference Coordinator: Thank you.
We'll take our next question from the site of (Jason
Clancy) with Juniper Capital.
(Jason Clancy): Good afternoon.
My question is about the kind of supplemental press
release here I just see across.
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Can you give me a little more information about what
this relates to and, you know, is this just the
timing issue?
James Edenfield: I've been doing these conferences for - except
tonight being 83 and this is the first time that I
had anything quite like this occur, so I would like
to apologize for the story being a little more
complicated and confusing maybe than we would
ordinarily expect.
I think the press release pretty well sums things -
(met) the matter up without getting into a lot of
details. It probably would be best not to do
publicly.
(Jason Clancy): Okay.
Should we read into this anything about potential
Sarbanes compliance and what, you know, the
recognition of this potentially incorrectly means
for that or is that just - getting away to ahead of
things?
James Edenfield: Well I think that Sarbanes-Oxley is increasing the
amount of governance which in turn increases the
amount of work. And so maybe the time frames that
we're accustomed to to, you know, to come up with
our numbers and to have the necessary meetings with
the auditors and for them to do the things they have
to do both at the - in their local office and maybe
going back to the corporate office on various
questions and issues.
We probably have not fully adjusted yet to the fact
that there's a lot more work in this than it used to
be. And in the future, we're probably going to all
have to allow a little more time.
(Jason Clancy): So am I correct in assuming that if this 290 is lost
to this last quarter, it will be book to the next
quarter?
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James Edenfield: It will be book in a subsequent quarter. I'm not - I
don't really know the answer as to which quarter it
might occur in.
(Jason Clancy): Okay.
And I - it is - I guess the release does not say
whether it's license or maintenance, is that
correct?
James Edenfield: License.
(Jason Clancy): It's license revenue?
James Edenfield: Yes.
(Jason Clancy): Okay.
So moving onto kind of a more general comment - your
thoughts on kind of the selling environment
generally. Has anything changed in the last - since
the last quarter regarding what you're seeing? Any
interest in RFID which is increasing activity?
J. Michael Edenfield: This is Mike Edenfield. I'll take that question.
We had a pretty active quarter. So we've seen a
pickup. There's still intense competition and
pricing pressure is pretty strong. But one of the
reasons we mentioned, the 21 new customers, is that
that's (a good - better) new customers. And that's a
better mix of new customers to existing customers in
terms of license revenue than we've really seen in a
while.
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Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
Page 24
So, we think that's a real positive sign. And, you
know, we're busy chasing a lot of nice opportunities
right now. So, it does seem that it's picked up in
terms of the amount of activity.
And most of our activity has not been in the RFID.
It's been more in the supply chain planning space.
(Jason Clancy): Another unrelated question:
Your real estate position, have you done any more
looking into - looking at realizing some value for
that, or is any plans in the work there at all?
James Edenfield: Well we're making good progress in leasing our
excess space. So, that's a very positive
development. And to the extent that we do that if we
(were to decide) to sell some of the real estate
that would make it more valuable in a selling
situation.
(Jason Clancy): Okay.
Well thank you very much. Good luck to you guys.
James Edenfield: Thank you.
Conference Coordinator: Thank you.
Once again, to ask a question, please press star and
1 on your touchtone phone.
And it appears we have no further questions.
AMSOFT
Third Quarter 2005 Fiscal Year Results
Moderator: Jim Edenfield
03-03-05/4:00 pm CT
Page 25
James Edenfield: Thank you very much for attending this conference
call, and we look forward to talking to you again in
the future.
END