Agilysys returns to a profit in its 4th quarter
by Associated Press Wire
June 12, 2013 09:30 AM | 511 views | 0 0 comments | 19 19 recommendations | email to a friend | print
ALPHARETTA, Ga. (AP) — Agilysys Inc. lower expenses helped it return to profitability in its fiscal fourth quarter after hefty charges resulted in a loss a year ago.

The company, which provides software to the lodging and leisure sectors, earned $330,000, or 1 cent per share, for the three months ended March 31. That compares with a loss of $17 million, or 78 cents per share, a year earlier.

Excluding stock-based compensation expense and other items, earnings from continuing operations were 15 cents per share.

Sales and marketing and general and administrative expenses shrunk in the quarter. The prior-year period was weighed down by large asset impairment and restructuring charges, while the current period included a legal settlement of $1.7 million.

Revenue increased 21 percent to $63 million from $52 million.

For the year, Agilysys lost $1.3 million, or 6 cents per share. In the previous year the company lost $22.8 million, or $1.02 per share. Annual revenue rose 13 percent to $236.1 million from $208.9 million.

Agilysys shares finished at $12.78 on Tuesday.

Copyright 2013 The Associated Press.

Comments-icon Post a Comment
No Comments Yet
*We welcome your comments on the stories and issues of the day and seek to provide a forum for the community to voice opinions. All comments are subject to moderator approval before being made visible on the website but are not edited. The use of profanity, obscene and vulgar language, hate speech, and racial slurs is strictly prohibited. Advertisements, promotions, spam, and links to outside websites will also be rejected. Please read our terms of service for full guides