Agilysys, Inc. (AGYS) Reports 75 Percent Increase in Sales but Lower Gross Margins on Divestiture
Shares of Agilysys, Inc. (NASDAQ: AGYS), a distributor and reseller of enterprise computer technology solutions, climbed more than 8.6 percent after the company’s quarterly earnings conference call earlier this week. Agilysys reported fourth quarter revenues of $206 million, a 74.7 percent year-over-year increase, but short of analyst estimates. Adjusted fourth quarter earnings per share of $0.04 were up more than 80 percent from the previous year. During the conference call, Agilysys announced quarter revenues and earnings, but noted lower gross margins on sales. According to management, the lower quarterly gross margins were a result of changes in the company’s product…