| Our customers have long depended on QAD to provide solutions tailored to their needs based on our long-standing and deep-rooted expertise in the manufacturing sector, our steadfast focus on key vertical markets and our product and service flexibility. Now, more than ever, in a constantly changing and sometimes challenging environment, they are looking to QAD for value-added products and services that not only support their long-term growth, but can be quickly and easily implemented, while delivering a high return on investment. Our unique ability to meet this demand for manufacturers of all sizes around the world, has helped QAD grow its installed base to 6,100 licensed sites, across more than 90 countries in as many as 27 different languages. QAD is making a substantial impact on improving the manufacturing lifecycle through our commitment to the future of global manufacturing.
Record Revenue and Positive Momentum
By broadening our product suite, delivering strong services capabilities and continuing to focus on sales and business process execution, QAD achieved revenue of $262.7 million in fiscal 2008…the highest level in the company’s history. License fees contributed 23 percent to the total, services revenue accounted for 28 percent, and maintenance and other revenue generated 49 percent. Revenue from products and services acquired last year added approximately $13.9 million to our fiscal 2008 total. During fiscal 2008, we closed 30 transactions each greater than $1.0 million, nine of which were valued at $2.0 million or more and two of which were valued
at $4.0 million or more.
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