Concur Technologies Inc. (NASDAQ: CNQR) reported Monday its second quarter net income increased slightly citing a rise in both revenue and costs, according to Associated Press.
The company also said it appointed Frank Pelzer as chief financial officer, effective May 17. Pelzer is replacing John Adair, who recently said he plans to retire to attend to family needs.
Net income grew 1 percent to $6.8 million, or 13 cents per share, in the three months to March 31, compared to $6.7 million, or 13 cents per share, a year earlier.
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Revenue rose 17 percent to $72.8 million from $62 million.
Adjusted for items such as share-based compensation expenses and amortization of intangible assets, earnings came to 20 cents per share.
Analysts polled by Thomson Reuters expected, on average, earnings of 18 cents per share on $70 million in revenue.
The company said it expects third-quarter adjusted net income to be 17 cents per share and 76 cents for the full fiscal year. The performance is below analysts' expectations for adjusted earnings of 20 cents in the third quarter and 80 cents for the full fiscal year.
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