Rand Worldwide Reports First Quarter Fiscal Year 2014 Results

Rand Worldwide announces financial results for its first quarter ended September 30, 2013.

November 14, 2013 | Framingham, Ma

Rand Worldwide, Inc. (OTCBB: RWWI), a global provider of technology solutions to organizations with engineering design and information technology requirements, announces financial results for its first quarter ended September 30, 2013.

For the quarter ended September 30, 2013, Rand Worldwide, Inc. reported revenues of $18.5 million, compared with $19.4 million for the same quarter in the prior fiscal year. The Company’s overall gross margin was 46.0%, a decrease from the 50.2% reported for the first quarter of fiscal 2013, resulting in a net loss of $276,000, or $(0.01) per fully diluted share. For the quarter ended September 30, 2012, Rand Worldwide reported net income of $576,000, or $0.01 per fully diluted share.

Lawrence Rychlak, president and chief financial officer at Rand Worldwide, commented, “We are disappointed by our results this quarter which were driven by our lower than anticipated revenues. We have taken steps to re-energize our sales performance and are optimistic that we will be back on track for our second fiscal quarter. ”

Marc Dulude, chief executive officer of Rand Worldwide, noted that, “The overall business environment was challenging at the start of the quarter but improved as we emerged from the summer months. We are well positioned to capitalize on the depth and breadth of our expertise to get the Company back on a growth track.”

Forward-looking Statement
This press release contains forward-looking statements about the expectations, beliefs, plans, intentions, and strategies of Rand Worldwide, Inc. There are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Statements that are not historical in nature, including those that include the words “goal,” “expect,” “anticipate,” “estimate,” “should,” “believe,” “intend,” and similar expressions, are based on current expectations, estimates and projections about, among other things, the industry and the markets in which Rand Worldwide operates, and they are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including risks and uncertainties discussed in this report; general economic, market, or business conditions; changes in interest rates, and demand for our products and services; changes in our competitive position or competitive actions by other companies; the ability to manage growth; changes in laws or regulations or policies of federal and state regulators and agencies; and other circumstances beyond our control. Consequently, all of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated will be realized, or, if substantially realized, will have the expected consequences on our business or operations.

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About Rand Worldwide
Rand Worldwide is one of the world’s leading professional services and technology companies for the engineering community, targeting organizations in the building, infrastructure, and manufacturing industries. The company advances the way organizations design, develop, and manage building, infrastructure, and manufacturing projects. Fortune 500 and Engineering News Record's Top 100 companies work with Rand Worldwide to gain a competitive advantage through technology consulting, implementation, training, and support services. One of the world's largest integrators of Autodesk software, the company also provides data archiving based upon solutions from Autonomy, facilities management software from ARCHIBUS, CAD and PLM courseware through their ASCENT division and provides training and support solutions on Dassault Systèmes and PTC products. For more information, visit rand.com
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