PAR Technology Corporation Announces 2010 Third Quarter EPS of $.04

PAR Technology Corporation (NYSE: PTC) today reported third quarter 2010 financial results.

For the third quarter ended September 30, 2010, PAR reported revenues of $61.2 million, an increase of 22.6% over the $49.9 million reported for the third quarter of 2009. The Company reported net income of $538,000 and $0.04 earnings per diluted share for the quarter, compared to the net loss of $(778,000) and loss per diluted share of $(0.05) reported for the third quarter of 2009.

For the first nine months of 2010, PAR reported total revenues of $175.5 million, an increase of 6.5% over the $164.8 million reported for the first nine months of 2009. Net income for this nine month period was $2.0 million, or $0.13 earnings per diluted share. The results represent an increase from the net loss of $(293,000) and $(0.02) loss per diluted share reported for the first nine months of 2009.