MAM Software Group, Inc. announced unaudited consolidated earnings for the fourth quarter and full year ended June 30, 2017. For the quarter, the company reported net revenues of $8,279,000 against $8,400,000 a year ago. Operating income was $1,582,000 against $1,163,000 a year ago. Income before provision for income taxes was $1,469,000 against $1,045,000 a year ago. Net income was $2,436,000 against $1,388,000 a year ago. Basic and diluted earnings per share attributed to common stockholders were $0.21 against $0.12 a year ago. Adjusted EBITDA was $1,840,000 against $1,455,000 a year ago.

For the full year the company reported net revenues of $31,596,000 against $32,212,000 a year ago. Operating income was $4,217,000 against $3,800,000 a year ago. Income before provision for income taxes was $3,658,000 against $3,741,000 a year ago. Net income was $4,578,000 against $3,552,000 a year ago. Diluted earnings per share attributed to common stockholders were $0.39 against $0.28 a year ago. Adjusted EBITDA was $5,129,000 against $5,048,000 a year ago. Net cash provided by operating activities was $5,525,000 against $3,245,000 a year ago. Purchase of property and equipment was $96,000 against $207,000 a year ago. Capitalized software development costs was $2,729,000 compared to $2,759,000 a year ago.

For the fiscal year 2018, the company expects adjusted EBITDA in the range of $5.5 million to $6.0 million, on a constant currency basis. The company expects revenue growth to be in the low double digits on a constant currency basis. The company expects to see gross margins decline as the company begins to amortize the capitalized software during fiscal year 2018 that company has been capitalizing throughout the last few years. Excluding the amortization, the company expects gross margins to be comparable with fiscal year 2017.