Revenue for the most recently ended period was $74.1 million, down 3 percent from $76.4 million a year earlier. The profit stemmed from a drop in costs. Sales and marketing expenses were $17.4 million for the quarter, a drop of 137 percent from $20.2. million. R&D costs were down 5.1 percent and while G&A expenses dropped .9 percent. That was not all the doing of the manufacturing software company. CFO Daniel Lender said most of the S&M savings were from not having the travel and other expenses associated with its annual customer conference. R&D benefited from a one-time payroll tax credit it received in Europe. QAD CEO Anton Chilton expressed satisfaction with the quarterly results, which he said reflected a “sold sales performance” Results reflected the typical move to the loud. Subscription revenue was $31.1 million, a rise of 20 percent from $31.1 million in last year’s corresponding period. Of course, license revenue fell to slightly more than $3 million, a decline  of 13.5 percent from 13.5 percent from  $3.5 million a year ago. Chilton noted, “North America came in with a really strong performance in our cloud business.  President Pam Lopker also noted that the automotive market represented over half of cloud bookings. Also typical of the move to the cloud is a drop in maintenance revenue with QAD reporting $26.5. million in that category, off 10.5 percent from slightly less than $30 million. Professional services income also fell to $13.5 million, dropping 22.4 percent from $17.4 million.