CLEVELAND, Jan. 21 /PRNewswire-FirstCall/ -- Agilysys, Inc.
(Nasdaq: AGYS), a leading provider of innovative IT solutions, announced it
received a letter from Nasdaq confirming that Agilysys is currently in
compliance with all listing standards following the filing of the company's
Form 10-Q with the Securities and Exchange Commission (SEC) for the period
ended September 30, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO )
"We are very pleased to now be current with all our filing requirements
for The Nasdaq Stock Market and the SEC," said Martin Ellis, president and
chief executive officer of Agilysys. "With these filings behind us, we will
continue to focus on expanding EBITDA margins, driving positive cash flow and
growing shareholder value. We look forward to sharing additional information
next month during our fiscal third-quarter earnings conference call."
As previously reported on November 20, 2008, in the company's fiscal
second quarter earnings release, Agilysys recorded material other income
during the fiscal year ended March 31, 2008, resulting from its minority
ownership interest in Magirus AG, a privately held computer systems
distributor headquartered in Germany. Because financial information associated
with the company's proportionate share of profits and losses reported by
Magirus remained unaudited and unconfirmed, Agilysys was unable to complete
preparation of its consolidated financial statements for fiscal 2008.
On November 18, 2008, Agilysys completed the sale of its 20% minority
interest in Magirus. Following the divestiture of its investment in Magirus,
Agilysys completed its audit for fiscal 2008 and filed its Form 10-K with the
SEC on December 16, 2008. Subsequently, the company also filed its Form 10-Q
for its fiscal 2009 first quarter ended June 30, 2008, on December 30, 2008,
and its Form 10-Q for its fiscal 2009 second quarter ended September 30, 2008,
on January 14, 2009.
About Agilysys, Inc.
Agilysys is a leading provider of innovative IT solutions to corporate and
public-sector customers, with special expertise in select markets, including
retail and hospitality. The company uses technology - including hardware,
software and services -- to help customers resolve their most complicated IT
needs. The company possesses expertise in enterprise architecture and high
availability, infrastructure optimization, storage and resource management,
identity management and business continuity; and provides industry-specific
software, services and expertise to the retail and hospitality markets.
Headquartered in Cleveland, Agilysys operates extensively throughout North
America, with additional sales offices in the United Kingdom and China. For
more information, visit www.agilysys.com.
Investor contact:
Curtis Stout
Vice President and Treasurer
Agilysys, Inc.
440-519-8635
curtis.stout@agilysys.com
Media contact:
Shawn Turner
Communications Manager
Agilysys, Inc.
440-519-8627
shawn.turner@agilysys.com
SOURCE Agilysys, Inc.