Agilysys, Inc. (AGYS) Misses Q1 EPS by 2c

Agilysys, Inc. (NASDAQ: AGYS) reported Q1 EPS of ($0.10), $0.02 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $31 million versus the consensus estimate of $30.17 million.

Jim Dennedy, President and CEO of Agilysys, commented, “Our positive revenue growth continued in the fiscal 2017 first quarter. The first quarter results include 13% revenue growth and another quarter of more than 30% year-over-year growth in subscription-based revenue. In addition, the total contract value of bookings for subscription based business increased 250% year over year. The growth rate of our subscription business reflects a continued shift to a higher level of recurring revenue in our overall revenue mix, a more predictable revenue stream and a stronger connection to our customers.

“The 28% year-over-year increase in our installed point of sale end points and 4% rise in the number of rooms managed by our Lodging solutions provides strong evidence of our growth in market share. In addition, we have added more than 130 new customer wins over the last twelve months, including 37 new customer wins in the first quarter. Our product investments provide valuable innovation for the hospitality markets we serve and are driving our success in growing our business with current customers, attracting business with new customers, and expanding our total addressable markets. We expect these trends to continue which will benefit both our near and long term results.”

GUIDANCE:

Agilysys, Inc. sees FY2017 revenue of $132-136 million, versus the consensus of $133.6 million.

For earnings history and earnings-related data on Agilysys, Inc. (AGYS) click here.

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