Agilysys Expects FY 2011 Revenue of $676M

Agilysys, Inc. AGYS today announced that it is lowering its guidance for the fiscal year ended March 31, 2011. Projected results are unaudited and subject to the ongoing audit closing process. The Company now expects to report consolidated revenue of approximately $676 million and adjusted EBITDA, excluding asset impairment and restructuring charges, ranging between a loss of $3 million and break-even for the fiscal year ended March 31, 2011. Cash on hand was approximately $74 million as of March 31, 2011. The Company also expects to record a non-cash charge ranging between $34 million and $42 million for impairment of acquisition-related goodwill and intangible assets in its Technology Solutions Group in fiscal 2011.