RANCHO CUCAMONGA, CA / ACCESSWIRE / May 20, 2022 / AGent Information Software (AIFS), the parent company of Auto-Graphics, Inc. (A-G), released 2022 first-quarter financials today.
In the first quarter of 2022, AIFS reported a net income of $28,070. Recurring revenue remains solid and grew to $1,295,800 at quarter-end, a slight increase from 2021. The second quarter will see new sales being booked; that, along with increases to the company's recurring revenue base, will also include one-time, non-recurring revenues. Currently, implementation is underway for both recently acquired customers: Arkansas State Library and SCELC (Statewide California Electronic Library Consortium.)
The company's cash position remains solid at the end of the first quarter of 2022. As stated in the previous year-end report, AIFS is striving to bolster its market position in the library automation software industry and continues to dedicate additional resources to new and improved product features by hiring additional developers and programmers.
Auto-Graphics, Inc. has been an industry leader in library management and resource-sharing software for over 50 years. A-G was the first to provide Cloud-based library resource-sharing solutions to library consortia. All A-G products meet ISO and NISO standards and are available through a cloud-based delivery model (SaaS - "Software as a Service.") For more information, visit A-G on their website at www.auto-graphics.com, or on Facebook and LinkedIn.
SOURCE: Auto-Graphics, Inc.