Rancho Cucamonga, CA (May 14, 2020) – The parent company of Auto-Graphics, Inc. (A-G), Agent Information Software (AIFS) released their earnings for the first quarter of 2020, ending March 31, 2020. AIFS’ sub-company Auto-Graphics, Inc., is an industry-leading provider of library automation software. A-G was the first to provide Cloud-based library resource sharing solutions.
AIFS continues its recent strengthening of its financial position as the COVID-19 pandemic began to sweep the country. AIFS reported a net income of $79,637 with an EBITDA of $269,000 that represented 21% of sales at quarter end. Continued growth of our recurring revenue base resulted in an increase by 5% from 2019 to $1,205,169. Cash flow remained strong into the first quarter with no drop in customer receipts and an increase focus on costs. AIFS reported EPS of $0.02 on weighted average shares outstanding of 4,464,577.
The company’s versatile AGent Library Software Platform continues to provide solutions that empower libraries across North America, to provide more products and services to their communities. A-G saw wins with both their SHAREit and VERSO products winning RFPs, SHAREit’s new contract will bring recurring business from 2020-2025. MONTAGE continues to be a successful product for A-G as well as the new customer gets set to launch in the coming quarter.
About Agent Information Software
Founded in 1950 and operating under the name Auto-Graphics, Inc. since 1969, Agent Information Software, Inc. (AIS) came about in 2010 to become Auto-Graphics, Inc. parent company. AIS develops innovative information and data management solutions for multiple platforms that are standards-compliant, built on open systems architecture and available through the Software as a Service (SaaS) hosted delivery model.
AIS’ technical ingenuity and reputation for service excellence make us a trusted partner to more than 11,000 libraries, throughout North America. Customers across multiple industries use their information and data management systems, including a range of library markets such as public, academic, school, special and consortia, and supports the needs of customers in the legal, financial, publishing, aerospace, and manufacturing markets. For more information, please visit www.agentinformationsoftware.com or www.auto-graphics.com.
FOR IMMEDIATE RELEASE
Media Contact: Katie Cover