Agilysys Q4 Loss Narrows

(RTTNews) - Agilysys Inc. (AGYS) Tuesday reported fourth-quarter net loss of $24.7 million or $1.05 per share, compared to a loss of $27.0 million or $1.16 per share last year.

Adjusted earnings were $0.21 per share for the quarter, compared to $0.05 per share last year.

Total revenue dropped 8% to $36.3 million from $39.7 million last year.

Recurring revenues, which are comprised of support, maintenance and subscription services, were $22.9 million or 63.1% of total revenue, compared to $22.3 million or 56.2% of total revenue last year. Subscription revenues increased 11.6% year over year and comprised 42.0% of total recurring revenues, compared to 38.7% of total recurring revenues in the fourth quarter of fiscal 2020.

Analysts polled by Thomson Reuters expected earnings of $0.15 per share on revenues of $36.7 million.

Looking forward to full year 2022, the company expects revenues to be between $160 and $170 million. Analysts currently estimate revenues of $165.37 million.