Agilysys noted growth in the third quarter 2016

The corporation believes the fiscal 2017 revenue will grow 8 or 12 percent from the currently anticipated fiscal 2016 revenue of US$117 million to US$119 million.

US.- Agilysys fiscal 2016 data announces good news for the international provider of software solutions and services for the gaming industry. The company perceived a 27 percent growth in the third quarter, which means US$31.3 million of profit compared to US$24.7 million in the same period previous year.

“Our strong third quarter results reflect continued growth in our market share as measured by the number of our installed point of sale end points and the number of hotel rooms managed by our property management systems.  This market share growth included a 24 percent year-over-year increase in our subscription based revenues as well as continued solid demand for our traditional solutions,” said James Dennedy, President and CEO of Agilysys.

The increasing revenues were seen also in subscription services. US$14.9 million meant a 48 percent of total net income in recurring revenues. The year before, US$13.9 million were collected, meaning 56 percent of total net revenue. Also SaaS revenues grew 24 percent year over year that consist of 18 percent of total recurring revenues. Last year it was 15 percent of the total recurring revenues.

But the net loss was US$1.7 million per diluted share, good news if it is compared to the year before when the company lost US$2.7 million. Furthermore, gross margin was 53 percent compared to 57 percent in third the quarter of 2015. Adjusted EBITDA (non-GAAP) loss was higher (US$0.6 million) in comparison to the same period 2015 when the amount was US$$(0.3) million.