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American Software, Inc. (AMSWA) reported that total revenues for the quarter ended October 31, 2016 were $26.1 million, a decrease of 10% over the comparable period last year and EBITDA decreased by 50% to $2.3 million. On the positive side the overall financial condition of the Company remains strong, with cash and investments of approximately $72.3 million and no debt. “The second quarter results were below our expectations. However, we remain optimistic about our overall fiscal year 2017 performance,” stated Mike Edenfield, president and CEO of American Software. “We continued to see more customers leveraging our cloud services and SaaS offerings to accelerate their deployments and enhance their operations. And, we are pleased to report a significant 42% increase in Cloud Services ACV when compared to the same period in the prior year.”