Agilysys Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months of Fiscal 2013
January 31, 2013 at 09:34 pm
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Agilysys Inc. announced unaudited consolidated earnings results for the third quarter and nine months of fiscal 2013. For the quarter, the company reported total net revenue rose 30% to $67.2 million from $51.6 million in the prior-year period led by a 56% increase in product sales, and consistent mid single-digit growth in support, maintenance and subscription revenues. GAAP operating income of $111,000 compared to an operating loss of $7 million in the same period last year. Adjusted net income was $1.7 million or $0.08 per diluted share in the quarter, compared to an adjusted net loss of $1.4 million or $0.06 per share last year. The saw a year-over-year improvement of $3.3 million to $2.1 million in adjusted operating income from a loss of $1.2 million a year ago. The company generated a positive $5 million and adjusted cash flow from operations.
For the nine months, the company generated negative adjusted operating cash flow of $4.6 million for the first nine months of the year. Total net revenue increased $16.2 million or 10% to $173.1 million compared to $156.9 million in the prior year period. GAAP operating loss was $1.3 million compared to a GAAP operating loss of $21.2 million in the fiscal 2012. Adjusted net income improved $9.6 million to $3.8 million or $0.17 per diluted share from a loss of $5.8 million or a loss of $0.26 per diluted share in the prior year, an improvement of $0.43 per share.
Agilysys, Inc. is a provider of hospitality software that delivers cloud-native software-as-a-service (SaaS) and on-premises solutions for hotels, resorts, cruise lines, casinos, corporate foodservice management, restaurants, universities, stadiums, and healthcare. The Company offers software solutions to the hospitality industry, including point-of-sale (POS), property management Systems (PMS), inventory and procurement, payments, and related applications, to manage the entire guest journey. It is a developer and marketer of software-enabled solutions and services to the hospitality industry, including software solutions integrated with third-party hardware and operating systems; subscriptions and maintenance; and professional services. Its POS solutions include InfoGenesis, IG Flex, IG Kiosk, IG KDS, IG OnDemand, IG Quick Pay, IG Smart Menu, IG PanOptic Kiosk, and IG Digital Menu Board. Its PMS solutions include Agilysys LMS, Agilysys Versa, Agilysys Stay, and others.