November 14, 2012 / 1:25 PM / 5 years ago

UPDATE 1-Retalix sees 2012 revenue exceeding $270 million

JERUSALEM, Nov 14 (Reuters) - Retalix Ltd, a provider of software for retailers, said it expects to top its revenue forecast for 2012 as third-quarter sales rose 15 percent.

Retalix in August said 2012 revenue was trending to the high-end of its estimate of $260 million to $270 million but on Wednesday Chief Executive Shuky Sheffer said: “We expect we will exceed our revenue guidance.”

He noted that its acquisition of retail software maker Cornell May Associates in September would have a minimal contribution in the rest of 2012 but “we expect it will grow as we move forward.”

The company earned 21 cents per diluted share excluding one-time items in the quarter, down from 31 cents a share a year earlier. It attributed the decline mainly to $138,000 of financial expenses versus $1.1 million in financial income in the third quarter of 2011.

Revenue grew to a record $70.5 million from $61.6 million.

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