Concur 1Q tops expectations, outlook upbeat

REDMOND, Wash. (AP) — Expense management software maker Concur Technologies Inc. said Wednesday that it posted a loss in the final quarter of 2011 as costs for sales, marketing and other expenses rose faster than revenue.

But its adjusted profit beat forecasts and its shares rose.
Concur's net loss for the quarter that ended Dec. 31 came to $868,000, or 2 cents per share, compared with net income of $3.7 million, or 7 cents per share, a year earlier.
Excluding one-time items such as stock-based compensation costs and income taxes, its adjusted earnings came to 32 cents per share. Analysts polled by FactSet predicted adjusted earnings of 20 cents per share.
Concur's revenue grew 25 percent to $100.4 million from $80.2 million. Analysts were looking for $98.8 million.
The company said it expects adjusted earnings before tax in the current quarter of 28 cents per share, while analysts on average expect 18 cents per share. It expects revenue to increase 25 percent from a year ago, implying sales of around $106 million, slightly above the $105 million analysts expect.
For the full year, Concur said it expects adjusted pre-tax earnings of $1.27 per share. Analysts had been looking for 83 cents per share.
Shares rose $1.21, or 2.2 percent, to $55.25 in after-hours trading following the earnings release. In the regular session, shares rose $1.69, or 3.2 percent, to close at $54.04.