RANCHO CUCAMONGA, Calif., April 10, 2020 (GLOBE NEWSWIRE) -- The parent company of Auto-Graphics, Inc. (A-G), Agent Information Software (AIFS) today released the earnings for the year ending December 31, 2019. 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.
For the year ending December 31, 2019, AIFS continued its recent strengthening of its financial position. AIFS reported a net income of $527,351, an increase from the 2018 net income of $507,893. EBITDA represents 25% of sales at year end, increasing by $181,000 from year end 2018. Continued growth of our recurring revenue base enabled sales for 2019 to increase by 8% to $5,560,366. AIFS reported EPS of $0.12 on weighted average shares outstanding of 4,424,577. AIFS declared its first dividend of $0.025 per share in August 2019.
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. The Auto-Graphics, Inc., SHAREit software continues to be successful in winning state RFPs that maintain and advance the company's strong presence in the industry. MONTAGE took Auto-Graphics outside the industry with an automotive business, who saw a new direction to use this software and validated our efforts for A-G to take this solution into new markets.
About Agent Information Software
Founded in 1950 and operating under the name Auto-Graphics, Inc. since 1969, Agent Information Software, Inc. (AIS) came about in 2010 to become Auto-Graphics, Inc. parent company. AIS develops innovative information and data management solutions for multiple platforms that are standards-compliant, built on open systems architecture and available through the Software as a Service (SaaS) hosted delivery model.
AIS' technical ingenuity and reputation for service excellence make us a trusted partner to more than 11,000 libraries, throughout North America. Customers across multiple industries use their information and data management systems, including a range of library markets such as public, academic, school, special and consortia, and supports the needs of customers in the legal, financial, publishing, aerospace, and manufacturing markets. For more information, please visit www.agentinformationsoftware.com or www.auto-graphics.com.