February 2, 2011 / 10:18 PM / in 6 years

UPDATE 1-Concur Technologies Q1 beats Street, sees strong Q2

2 Min Read

* Q1 adj EPS $0.30 vs est EPS $0.18

* Q1 rev $80.2 mln vs est $79.5 mln

* Sees Q2 adj EPS $0.24 vs est EPS $0.20

* Sees Q2 rev up about 15.5 pct

Feb 2 (Reuters) - Money management software maker Concur Technologies Inc CNQR.O posted first-quarter results that beat expectations on higher service and subscription revenue and forecast strong second-quarter profits.

The company expects second-quarter earnings of 24 cents per share on a revenue increase of about 15.5 percent.

Analysts, on average, are expecting an income of 20 cents per share on revenue of $84.2 million, according to Thomson Reuters I/B/E/S.

Concur Technologies, founded in 1993, provides its customers, including American Express (AXP.N), employee spend management software, through its products called Concur Travel & Expense and Concur Audit.

For the October-December period, Concur earned $3.7 million, or 7 cents per share, compared with $6.4 million, or 12 cents per share, a year ago.

Excluding items, it earned 30 cents per share, above analysts' expectations of 18 cents per share.

Revenue for Concur -- which competes with Compuware Corp CPWR.O -- rose 19 percent to $80.2 million, beating Street expectations of $79.5 million.

The Redmond, Washington-based company, which recently acquired mobile trip management software maker TripIt, fell 5 cents in after-market trade after closing at $51.20 on Wednesday on Nasdaq. They have fallen 2 percent in the last three months. (Reporting by Siddharth Cavale in Bangalore; Editing by Joyjeet Das)

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