In yesterday's trading, shares of Concur Technologies
In Q3, Concur posted a 30% increase in revenues to $35.7 million and net income was $4.1 million, or $0.10 per share. The company added 525 new customers in the quarter. Perhaps the most impressive customer win was Merrill Lynch
Like Salesforce.com and Taleo
Concur is also trying to grow its business. Recently, it completed its acquisition of Gelco Information Network, which is a rival expense management provider. The company brings along 1,200 clients, 625,000 on-demand users, and is expected to add $9 million in quarterly revenues.
But might an economic slowdown derail the growth? Maybe not. Keep in mind that companies are likely to find ways to cut costs, which is what Concur's software does effectively. Concur does not seem too concerned about a potential economic slowdown. In fact, going into fiscal 2008, Concur is projecting a healthy $200 million in revenues and $28 million in free cash flow. That would certainly be a nice performance in any market.
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