Agilysys Adjusts Annual Revenue Growth Downward
February 10, 2014 Dan Burger
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The third quarter financial report from Agilysys showed pretty much as-expected results with a growth in recurring support revenue not being strong enough to combat an overall reduction in revenue. Management painted the outcome as demonstrating growth in higher-margin recurring revenue while continuing to focus on solutions and customer support to clients across the hospitality industry, but it also revised the company’s fiscal 2014 outlook to predict lower than expected annual growth. Agilysys officials attributed the steep decline in product revenue to a decrease in “lower-margin, remarketed product sales in the third quarter of fiscal 2013 that did not repeat |
