Parent Company of Auto-Graphics (A-G) releases 2nd Quarter 2020 financial results
RANCHO CUCAMONGA, Calif., Sept. 21, 2020 (GLOBE NEWSWIRE) — The parent company of Auto-Graphics, Inc., Agent Information Software released their earnings for the second quarter of 2020, ending June 30, 2020. 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 to strengthen its financial position as the COVID-19 pandemic continues to sweep the country. AIFS reported a net income of $158k with an EBITDA of $528k that represented 20.3% of sales at quarter end. The company issued a dividend of $0.03 per share on June 12th. Cash flow remained strong into the second quarter with no drop in customer receipts and an increased focus on costs. AIFS reported EPS of $0.04 on weighted average shares outstanding of 4,474,577.
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 launched SHAREit and VERSO systems to a pre-existing MONTAGE customer, that saw these other core products offering solutions to their systems and workflow. SHAREit continues to be a problem-solving solution for states across the country, Florida is the latest state to sign with Auto-Graphics and will be going live in Q3 with SHAREit.
About Agent Information Software
Originally founded in 1950, the company provided services to various industries before going public in 1969 as Auto-Graphics, Inc. From there, Agent Information Software, Inc. (AIFS) was formed in 2010 with Auto-Graphics, Inc. as a wholly owned subsidiary. A-G develops information and data management solutions that are standards-compliant. The company continues to innovate and evolve the products through its program of providing ongoing system updates and upgrades to all customers via our Software as a Service (SaaS) subscription/delivery model. The company’s technical ingenuity and reputation for excellent service makes them a trusted resource to more than 6,000 libraries throughout North America. Customers across multiple industries use the AGent Library Management Platform. A-G’s primary focus is to provide services to a broad range of libraries such as statewide systems, public, academic, school, special, and consortia. For more information, please visit www.agentinformationsoftware.com or www.auto-graphics.com.
FOR IMMEDIATE RELEASE
Media Contact: Katie Cover
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