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News Breaks
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November 18, 2009
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| 13:54 EDT |  | CNQR |
| theflyonthewall.com: | Concur Technologies tumbles after reporting lower than expected EPS | | On-demand HR software provider Concur Technologies (CNQR) reported Q4 EPS of 11c, compared with analysts' consensus estimate of 18c. However, the company's revenue was slightly higher than expected. The company predicts that its Q1 EPS will come in at 27c, versus the consensus of 19c. Moreover, Concur provided Q1 EPS guidance of 27c, versus the consensus of 19c and the company believes that its FY10 EPS will be $1.27, versus the consensus of 87c. "Against the backdrop of an economic environment that is continuing to stabilize, we expect year-over-year revenue growth rates to modestly trend up in the first half of fiscal 2010 and more substantially trend up in the second half of fiscal 2010," said Concur CEO Steve Singh. "Given the large-scale opportunity in front of us, we are accelerating investments across the business to execute on our core objectives," Singh explained. An Oppenheimer analyst recommends buying the stock on weakness, as the firm believes that the company's revenue is poised to jump at least 25% in upcoming quarters. The firm thinks that the company's revenue will be boosted by its relationship with AMEX, stabilizing unemployment, and its new products. In mid-afternoon trading, Concur fell $4.29, or 10.44%, to $36.73. :theflyonthewall.com |
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