Asure Software posts stronger Q3 profits

Nov 13, 2014
Austin Business Journal

Asure Software Inc. reported Wednesday a higher third-quarter profit on surging revenue

The Austin-based company posted a third-quarter profit of $161,000, or 3 cents per share, on revenue of $7 million compared with a profit of $109,000, or 2 cents per share, on revenue of $6.4 million during the same period last year, according to a filing with the U.S. Securities and Exchange Commission

On Wednesday, Asure Software shares closed down 17 cents, or 3.4 percent, to $4.88

Asure Software, which was founded in 1985 as Forgent Networks Inc., develops workforce management software but has been on a buying spree to diversify. The company, which adopted its new name in 2009, now employs about 120 workers

In October, Asure Software hired Brad Wolfe as its chief financial officer, replacing Jennifer Crow, who resigned in June to pursue an opportunity with another company, according to an SEC filing

In August, Asure reported the acquisition of Baltimore-based Roomtag LLC, the developer of move-management software, in a deal worth nearly $1.7 million. It was the second acquisition in as many months for Asure. In July, the company bought Utah-based FotoPunch Inc., a maker of labor and time management software, in a deal worth about $4.5 million, SEC filings indicate

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