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Agilysys Reports Unaudited Fiscal 2011 Third-Quarter and Nine-Month Results

CLEVELAND Feb. 2, 2011 December 31, 2010

http://photos.prnewswire.com/prnh/20030915/AGLSLOGO

Fiscal 2011 Third-Quarter Unaudited Results of Operations

$1.2 million to $217.0 million $215.8 million

Third-quarter gross margin declined to 21.5% from 23.2% in the prior year third quarter, primarily due to lower vendor incentives and services margins.

Martin Ellis

$44.9 million $1.1 million $0.7 million $40.5 million $1.6 million

$1.9 million $8.6 million $5.4 million $12.6 million

$2.0 million $0.08 $13.6 million $0.59

"We have continued our aggressive investment in Guest360™, our next generation hotel management system, which together with our previous investments in market-leading, complementary software solutions, including property management, point of sale and inventory and procurement, positions us very well for long-term success in the hospitality industry," said Mr. Ellis.

Fiscal 2011 Nine-Month Unaudited Results of Operations

$531.7 million $498.5 million

Gross margin decreased to 22.8% in the first nine months, compared with 25.2% in the same year-ago period, due to the lower vendor incentives and competitive pricing pressure.

$128.4 million $125.3 million $2.5 million $2.3 million $1.6 million $2.4 million

$7.5 million $0.6 million $3.2 million $13.0 million

$10.5 million $0.46 $4.0 million $0.18 $3.7M $3.8M

Fiscal 2011 Business Outlook

$7 million

$690 million to $710 million $3 million to $6 million $3.5 million $13.0 million to $13.5 million $8 million to $9 million $5 million

$60 million to $75 million March 31, 2011

Conference Call Information

February 2, 2011 11:00 a.m. ET www.agilysys.com

To be added to Agilysys’ e-mail distribution list, please click on the link below:

http://www.agilysys.com/home/InvestorRelations/

Forward-Looking Language

the United States

Other potential risks and uncertainties that may cause actual results to be materially different from those in forward-looking information are described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC), under Item 1A, "Risk Factors." Copies are available from the SEC or the Agilysys website.

Use of Non-GAAP Financial Information

To supplement the unaudited condensed consolidated financial statements presented in accordance with U.S. GAAP in this release, certain non-GAAP financial measures are used. Management believes that such information can enhance investors’ understanding of the Company’s ongoing operations and is a measure used in the Company’s debt agreement. The non-GAAP measures included in this release have been reconciled to the comparable GAAP measures within an accompanying table, shown on the last page of this release.

About Agilysys, Inc.

Cleveland North America United Kingdom Asia

http://www.agilysys.com

─FINANCIAL STATEMENTS FOLLOW─

AGILYSYS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except share and per-share data)

Three Months Ended

Nine Months Ended

December 31,

December 31,

2010

2009

2010

2009

Net sales:

Products

$  179,902

$  181,459

$ 433,542

$  408,750

Services

37,096

34,291

98,151

89,722

Total net sales

216,998

215,750

531,693

498,472

Cost of goods sold:

Products

153,041

152,310

367,052

333,644

Services

17,242

13,464

43,275

39,128

Total cost of goods sold

170,283

165,774

410,327

372,772

Gross margin

46,715

49,976

121,366

125,700

Selling, general and administrative expenses

44,850

40,501

128,388

125,341

Asset impairment charges

238

59

238

Restructuring charges

3

677

406

745

Operating (loss) income

1,862

8,560

(7,487)

(624)

Other (income) expenses:

Other income, net

(321)

(4,893)

(2,277)

(5,963)

Interest income

(21)

(61)

(27)

Interest expense

316

259

880

688

Income (loss) before income taxes

1,888

13,194

(6,029)

4,678

Income tax (benefit) expense

(110)

(410)

4,439

593

Income (loss) from continuing operations

1,998

13,604

(10,468)

4,085

Income (loss) from discontinued operations, net of taxes

3

(38)

Net income (loss)

$    1,998

$   3,607

$(10,468)

$   4,047

Earnings per share – basic:

Income (loss) from continuing operations

$      0.09

$      0.60

$    (0.46)

$     0.18

Income (loss) from discontinued operations

Net income (loss)

$      0.09

$      0.60

$    (0.46)

$     0.18

Earnings per share – diluted:

Income (loss) from continuing operations

$      0.08

$      0.59

$    (0.46)

$     0.18

Income (loss) from discontinued operations

Net income (loss)

$      0.08

$      0.59

$    (0.46)

$     0.18

Weighted average shares outstanding

Basic

22,752,632

22,624,622

22,751,042

22,625,866

Diluted

23,553,660

23,170,992

22,751,042

23,010,272

Cash dividends per share

$          –

$             –

$            –

$      0.06

AGILYSYS, INC.

BUSINESS SEGMENT INFORMATION

(UNAUD ITED)

(In thousands)

Three Months Ended December 31, 2010

Nine Months Ended December 31, 2010

Reportable Segments

Reportable Segments

HSG

RSG

TSG

Corp/
Other

Consolidated

HSG

RSG

TSG

Corp/
Other

Consolidated

Total net revenue

$ 24,340

$34,333

$158,325

$          —

$ 216,998

$  67,959

$  86,827

$376,907

$          —

$   531,693

Gross margin

$ 13,345

$  5,795

$  27,575

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