Despite its losses, Concur says it continues to make investments, including in its powering of the federal government travel program, and is showing strength in both the small to medium business, and global accounts markets.
Concur Technologies, Inc. (CNQR) Wednesday reported a narrower loss for the fourth quarter, helped mainly by a healthy revenue growth. The company also provided an outlook for the first quarter as well as the full-year 2013, which are currently above analysts’ expectations.
Net loss for the quarter improved to $8.4 million from $14.1 million last year. Net loss attributable to Concur totaled $8.2 million or $0.15 per share, compared to $14.0 million or $0.26 per share in the same period last year.
Adjusted pretax income attributable to Concur was $23.1 million or 0.40 per share, compared to $20.5 million or $0.37 per share last year.
On average, 20 analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts’ estimates typically exclude special items.