Agilysys (AGYS) is sinking for a second straight day, falling 6% today, after the company reported lower-than-expected revenue for its fiscal third quarter on Tuesday after the market closed. The company, which provides software for the hospitality sector, also provided lower-than-expected sales guidance.

A Look At Agilysys' Results and Guidance

The company's Q3 revenue jumped 15% versus the same period a year earlier to $69.6 million. But that was significantly below analysts' average estimate of $73.15 million. On a positive note, its Q3 earnings per share, excluding certain items, came in at 38 cents, meaningfully above the mean outlook of 34 cents.

An aerial view of a high-rise hotel illuminated in the night sky.

The lobby of a busy hotel, with guests checking in and a staff member welcoming them.

However, AGYS cut its full fiscal year revenue guidance to about $273 million. Previously it had provided full-year revenue guidance of $280 million to $285 million.

Agilysys' Comments

"Revenue levels, especially one-time product revenue, continue to be impacted by recent sales challenges with point-of-sale products, mainly in the managed food services vertical, caused by our final modernization transition phase," CEO Ramesh Srinivasan said in a statement.

The Recent Price Action of AGYS Stock

In the last five days, the shares have sunk 28%, while they are down 31% in the last month.

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Disclosure: None. This article is originally published at Insider Monkey.