MAM Software Group, Inc. announced unaudited consolidated earnings results for the first fiscal quarter ended September 30, 2016. For the quarter, the company reported revenues of $8,062,000 against $7,995,000 a year ago. Operating income was $1,367,000 against $1,024,000 a year ago. Income before provision for income taxes was $1,247,000 against $1,014,000 a year ago. Net income was $1,213,000 or $0.10 per basic and diluted share against $830,000 or $0.06 per basic and diluted share a year ago. Net cash provided by operating activities was $1,410,000 against $613,000 a year ago. Purchase of property and equipment was $24,000 against $14,000 a year ago. Adjusted EBITDA (non-GAAP) was $1,579,000 compared to $1,218,000 a year ago. Capital expenditures, including capitalized software development costs, were $773,000 against capitalized software development costs of $647,000 a year ago. The increase in capitalized software development costs reflected the investments in VAST Online and Goodyear projects.

The company reaffirmed its expectations for fiscal year 2017 adjusted EBITDA in the range of $4.1 million to $4.6 million.