Concur Technologies Up 10% After Reporting Positive Earnings
Shares of Concur Technologies (NASDAQ: CNQR) are up nearly 10% after the company reported positive earnings.
Concur reported total revenue for the first quarter of fiscal 2012 of $100.4 million. Total revenue for the quarter was up 25% from the year-ago quarter and up 5% from the prior quarter. Fiscal 2012 first quarter non-GAAP pre-tax income was $17.9 million, or $0.32 per share.
"Driven by the investments we made in the core business over the past few fiscal years, we recorded an exceptional first quarter of fiscal 2012, with revenue growing 25% year-over-year and EPS coming in ahead of our expectations," said Steve Singh, chairman and CEO of Concur. "We are pleased with the performance of our business across the board and – driven by the strength of the first quarter of fiscal 2012 and our outlook for the remainder of the fiscal year – we are raising our growth expectations for the fiscal year as a whole."
