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November 5, 2010

Agilysys Q2 revenue up 18%

Expects to post revenue of $690m to $710m in fiscal year 2011

By CBR Staff Writer

Agilysys has reported total revenues of $184m for the second quarter of FY 2011, an increase of 18% compared to $156m for the same quarter in FY 2010.

The company reported an operating loss of $3m for the second quarter of FY 2011, compared to an operating income of $4m for the same period in FY 2010.

For the quarter ended 30 September 2010, the company posted net loss of $2.1m, or $0.10 per share, as compared to net income of $3m, or $0.12 per share, for the same in 2010.

Martin Ellis, president and CEO of Agilysys, said: "While TSG revenue lagged expectations during the quarter, we successfully increased attach rates, bundling more software and services with hardware sales."

"The demand environment has improved which bodes well for the future and our new integrated Oracle ERP platform will, over time, contribute to improved financial reporting, internal controls and operating efficiencies, as well as enhance customer service."

The company expects to post revenues of $690m to $710m in fiscal year 2011.

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