The 10-second takeaway
For the quarter ended June 30 (Q3), Concur Technologies met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share expanded significantly. GAAP earnings per share dropped significantly.
Gross margins increased, operating margins expanded, net margins contracted.
Concur Technologies recorded revenue of $138.7 million. The 23 analysts polled by S&P Capital IQ expected a top line of $139.1 million on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $113.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.25. The 21 earnings estimates compiled by S&P Capital IQ averaged $0.24 per share. Non-GAAP EPS of $0.25 for Q3 were 39% higher than the prior-year quarter's $0.18 per share. GAAP EPS of $0.05 for Q3 were 58% lower than the prior-year quarter's $0.12 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 73.7%, 200 basis points better than the prior-year quarter. Operating margin was 5.5%, 530 basis points better than the prior-year quarter. Net margin was 2.0%, 410 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $151.0 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $540.2 million. The average EPS estimate is $0.91.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Concur Technologies is hold, with an average price target of $76.31.
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