- Wednesday, October 16, 2024
Agilysys, a leading provider of hospitality software solutions, has reported a significant increase in profit for the latest quarter. The company saw record-breaking revenue and substantial growth in subscription revenue during the period.
Strong Financial Performance
In the fiscal third quarter that ended on December 31, Agilysys achieved a net profit of $77.1 million, equivalent to $2.85 per share. This impressive accomplishment marks a significant improvement compared to the $3.9 million profit, or 13 cents per share, recorded during the same period in the previous year.
Earnings Exceed Expectations
After excluding one-time items, the company's earnings per share reached 35 cents. This outperformed analysts' expectations of an adjusted earnings per share of 26 cents, according to FactSet.
Impressive Revenue Growth
Agilysys experienced a remarkable 21% increase in revenue, reaching $60.6 million for the quarter. This surpassed analysts' estimates of $60.1 million, as reported by FactSet.
Positive Outlook
The company remains optimistic about its financial performance and has confidently increased its full fiscal year revenue guidance range to $235 million to $238 million. Agilysys also expects a 28% year-over-year growth in subscription revenue.
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