SofTech, Inc. today announced its third quarter fiscal year 2015 operating results. Revenue for the three months ended February 28, 2015 was approximately $.925 million as compared to approximately $1.342 million for the same period in the prior fiscal year. The net loss for the current quarter was approximately ($356,000) or ($.40) per share compared to approximately $(339,000) or $(.39) per share for the same period in the prior fiscal year. EBITDA for current quarter was approximately $(171,000) as compared to approximately $(259,000) for the same period in fiscal year 2014.
Revenue for the nine months ended February 28, 2015 was approximately $2.8 million as compared to approximately $4.1 million for the same period in the prior fiscal year. The net loss for the first nine months of the current fiscal year was approximately ($1,307,000) or ($1.47) per share compared to a net loss of approximately $(91,000) or $(.10) per share for the same period in the prior fiscal year. The prior year operating results included a one-time gain from the sale of the CADRA product line of approximately $649,000.
EBITDA for the first nine months of the current fiscal year was $(686,000) as compared to approximately $3,580,000 for the same period in fiscal 2014. The EBITDA generated by the sale of the CADRA product line totaled approximately $3,954,000 (gain of $649,000 which included non-cash expenses of $3,305,000) in the nine months ended February 28, 2014.
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