MAM Software Group, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2018. For the quarter, the company reported net revenues of $9,109,000 against $7,873,000 a year ago. Operating income was $1,223,000 against $860,000 a year ago. Income before provision for income taxes was $1,128,000 against $662,000 a year ago. Net income was $1,217,000 or $0.10 per share basic and diluted against $678,000 or $0.06 per share basic and diluted a year ago. Adjusted EBITDA was $1,531,000 against $1,058,000 a year ago. Revenue represents year-over-year growth of 15.7% as reported and 7.3% on a constant-currency basis. Revenue growth was 7% for the quarter, excluding the impact from the foreign currency fluctuations. The benefit for income tax was $89,000 or an effective tax rate of negative 8% for the third quarter fiscal year 2018. This compares to a tax benefit of $16,000 or effective rate of negative 2% for the same period last year. The tax benefit during the quarter was primarily due to U.S. R&D tax credits.

For the nine months, the company reported net revenues of $26,247,000 against $23,317,000 a year ago. Operating income was $3,573,000 against $2,629,000 a year ago. Income before provision for income taxes was $3,265,000 against $2,189,000 a year ago. Net income was $2,252,000 or $0.19 per share basic and diluted against $2,141,000 or $0.18 per share basic and diluted a year ago. Net cash provided by operating activities was $5,208,000 against $4,065,000 a year ago. Adjusted EBITDA was $4,395,000 against $3,279,000 a year ago. Purchase of property and equipment was $79,000 against $88,000 a year ago. The capital expenditure primarily relate to capitalized software costs directly attributable to large customer development projects.

For the year 2018, the company expects Adjusted EBITDA in the range of $5.5 million to $6.0 million, on a constant currency basis.