Sapiens: Q1 Earnings Snapshot
HOLON, Israel (AP) _ Sapiens International Corp. (SPNS) on Tuesday reported first-quarter earnings of $9.8 million.
The Holon, Israel-based company said it had profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, were 27 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The provider of software and services to the insurance industry posted revenue of $109.6 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $110 million.
Sapiens expects full-year revenue in the range of $459 million to $464 million.
Sapiens shares have climbed slightly more than 5% since the beginning of the year.