PAR Technology (NYSE: PAR) reported Q4 EPS of ($0.26), $0.12 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $52.9 million versus the consensus estimate of $52.9 million.

Summary of Fiscal 2019 Fourth Quarter Financial Results

• Revenues were reported at $52.9 million for the fourth quarter of 2019, compared to $46.7 million for the same period in 2018, a 13.4% increase.
• GAAP net loss for the fourth quarter of 2019 was $5.8 million, or $0.35 loss per share, compared to the GAAP net loss of $6.2 million, or $0.38 loss per share reported for the same period in 2018.
• Non-GAAP net loss for the fourth quarter of 2019 was $4.3 million, or $0.26 loss per share, compared to non-GAAP net loss of $3.7 million, or $0.23 loss per share, for the same period in 2018.

“Our fourth quarter numbers reflect a growing company amidst a continued transition. We are moving away from a software license and hardware sales model to a subscription model that provides recurring revenues, offers considerable customer benefits and will produce solid profitability for our Company in the long term. We are building an industry leading restaurant management platform by accelerating both our organic and inorganic growth, with a constant focus on long term success,” commented Savneet Singh, PAR Technology CEO & President. “We are experiencing strong demand for our SaaS solutions, and are excited about the successful integration and performance of recently acquired businesses along with our recently introduced payment services solution. We are carefully monitoring the market impacts surrounding the recent Coronavirus outbreaks and are taking steps to mitigate near-term supply chain issues and challenges for our customers. We continue to prioritize the health and safety of our employees and have strengthened our oversight given the current concerns.”

For earnings history and earnings-related data on PAR Technology (PAR) click here.