Thursday, February 2, 2012

Concur Has First $100M Quarter

Publicly traded travel and expense management software provider Concur said Wednesday afternoon that it has seen its first, $100M quarter. The Redmond-based company said that it had $100.4M in revenues for its first quarter of fiscal 2012, which ended December 31, 2011, the first $100M plus quarter in the company's history. The firm said it is now expecting a $400M annual run rate during calendar 2012, and is hoping to grow that to a $500M annual run rate by the end of the period. The revenues for the quarter were up from the comparable quarter a year ago. Among other information revealed by the firm in its quarter results were two investments: one in Room77, a hotel shopping site, and an investment in RideCharge, a firm offering ground travel booking, payment, and expense management.