CIMdata PLM Industry Summary Online Archive
14 November 2012
Financial News
Rand Worldwide Reports First Quarter Fiscal Year 2013 Results
Rand Worldwide, Inc., a global provider of technology solutions to organizations with engineering design and information technology requirements, announces financial results for its first quarter ended September 30, 2012.
For the quarter ended September 30, 2012, Rand Worldwide, Inc. reported revenues of $21.6 million, compared with $21.9 million for the same quarter in the prior fiscal year. The Company’s overall gross margin was 49.0%, a significant increase from the 43.3% reported for the first quarter of fiscal 2012, resulting in net income of $576,000, or $0.01 per fully diluted share. For the quarter ended September 30, 2011, Rand Worldwide reported net income of $402,000, or $0.01 per fully diluted share.
Lawrence Rychlak, president and chief financial officer at Rand Worldwide, commented, “In this quarter, we were able to increase our net income by 43% from the levels we reported in the same quarter last year due to a positive revenue mix which helped to drive higher overall gross margins. In addition, we continue to generate good levels of cash flow which supported a significant investment in our IT infrastructure and the acquisition of a specialty computer-aided engineering consulting company that we closed in July of this year.”
Marc Dulude, chief executive officer of Rand Worldwide, noted that, “The investments we have made in our various sales forces are beginning to add the capacity we intended and we noted that our archiving business was especially productive this quarter as sales of our Rand Secure Archive product suite continue to grow significantly. These returns on investments made over the past year are gratifying to us as a company.”
Conference call details
Rand Worldwide will hold a conference call to discuss its first quarter 2013 results at 11:00 am ET on Wednesday November 14, 2012. The dial-in numbers for the conference call are 1 (866) 700-7477 (domestic) or 1 (617) 213-8840 (International), and enter the passcode (99124529). A live, listen-only Webcast of the conference call will be available to all investors in the Investor Relations section of the Company's Web site.
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