REDMOND, Wash. (AP) — Travel and expense management company Concur Technologies Inc. on Tuesday reported a loss in its fiscal fourth quarter on charges related to its acquisition of TripIt earlier in the year.
Concur posted a loss of $14 million, or 26 cents per share, in the three months ended Sept. 30. A year ago the company reported a profit of $3.4 million, or 6 cents per share.
Concur said that if one-time items were excluded, it would have 37 cents per share. The company said most of those items were related to accounting for its purchase of TripIt, which makes an app designed to help travelers organize and share their travel plans. Its revenue grew 23 percent, to $95.2 million from $77.5 million.
Analysts expected the company to report a profit of 24 cents per share, excluding one-time items, and $94.7 million in revenue, according to FactSet.
Concur agreed to buy TripIt in January. The deal included $82 million upfront in cash and stock. Other considerations could bring the value of the deal to $120 million.
In fiscal 2011, Concur said it lost $10.7 million, or 20 cents per share. The year before, it reported a profit of $20.1 million, or 38 cents per share. Revenue rose 19 percent, to $349.5 million from $292.9 million.
Concur said it expects an adjusted pre-tax profit of 29 cents per share in its fiscal first quarter, and said revenue will grow about 23 percent, implying about $99 million.
Analysts expect the company to report an adjusted profit of 23 cents per share and $97.8 million in revenue on average for the fiscal first quarter.
In aftermarket trading, Concur’s stock fell $2.04, or 4.3 percent, to $45.99 following the release of the earnings report..