Agilysys Reports Q3 Earnings, Misses Revenue Estimates
ALPHARETTA, Ga., December 13, 2022 (GLOBE NEWSWIRE) -- Agilysys Inc. (AGYS) today announced its financial results for the third quarter of fiscal 2023.
Financial Highlights:
* Net income: $3.8 million or $0.14 per share
* Adjusted earnings: $0.38 per share
* Revenue: $69.6 million
The company's adjusted earnings exceeded analysts' estimates of $0.32 per share. However, revenue fell short of expectations of $73 million.
Business Performance:
Agilysys provides software solutions to the lodging and leisure industries. The company's revenue increased by 9.6% year-over-year, driven by strong demand for its hospitality technology.
Outlook:
Agilysys expects full-year revenue of $273 million. The company plans to continue investing in its products and services to meet the evolving needs of its customers.
Stock Performance:
Agilysys shares have declined by slightly more than 4% since January 1, 2023. As of the close of trading on Tuesday, December 13, the stock price stood at $125.90, representing a 60% increase over the past year.