Tyler Technologies: 1Q Earnings Snapshot
PLANO, Texas (AP) _ Tyler Technologies Inc. (TYL) on Wednesday reported first-quarter earnings of $47.6 million.
The Plano, Texas-based company said it had net income of $1.16 per share. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The information management software provider posted revenue of $276.5 million in the period. Its adjusted revenue was $276.8 million, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $282 million.
Tyler Technologies shares have increased 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $321.01, a rise of 40% in the last 12 months.