Concur’s profit rises 13 pct, but outlook falls short and shares slip

Concur’s profit rises 13 pct, outlook falls short

REDMOND, Wash. — Concur Technologies Inc.’s quarterly profit jumped 13 percent as the company reported higher sales of its employee travel and expense services.

The company said after the market closed Wednesday that its net income jumped to $6.5 million, or 12 cents per share, versus $5.8 million, or 11 cents per share, a year ago.

Excluding expenses for employee stock compensation and one-time items, the company earned 19 cents per share, topping the average projection of 17 cents per share of analysts polled by Thomson Reuters, on that same basis.

Revenue in the last three months of 2009 — Concur’s fiscal first quarter — rose 16 percent to $67.7 million, ahead of analysts’ expectation for $66 million.

Concur’s forecast for 17 cents per share of net income in the second fiscal quarter, excluding items, fell short of analysts’ forecast for 20 cents per share in profit in the same period.

Concur shares fell $1.03, or 2.5 percent, to $40 in extended trading. They had fallen 22 cents, or 0.5 percent, to close at $41.14 before the results were reported.