Concur reported 24 percent higher year-over-year revenue of $118 million for its fiscal fourth quarter, ending in September. The company said it expects at least as much growth for its 2013 fiscal year thanks partly to record client signings. Concur in the September quarter also more than doubled its operating income compared with the same period a year earlier. While new accounts are the biggest driver of growth, a smaller factor, travel transaction growth, has turned from a "tailwind" to a "headwind" against growth, according to the company. This headwind plus the impact of Hurricane Sandy on both travel and Concur's deployments are driving weaker expectations for the current quarter.
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