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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

November 11, 2008 at 1:53 PM

What downturn? Concur expects 25% growth in ’09

Talk about counterintuitive. Redmond-based Concur Technologies blew past its sales, profit and cash flow guidance in its fourth quarter, signing a record number of new companies to use its online expense management system.

Sales were $57.5 million, up 61 percent, including a 72 percent increase in subscription revenue. Cash flows for the year were up 222 percent.

Earnings per share missed analyst expectations, at 11 cents vs. the estimated 14 cents.

Still the stock’s up about 2 percent in after-hours trading ($20.75 at last check) after a rough day when it fell about 7 percent during the day to close at $20.29.

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