Model N: Fiscal 4Q Earnings Snapshot
SAN MATEO, Calif. (AP) _ Model N Inc. (MODN) on Tuesday reported a loss of $5.7 million in its fiscal fourth quarter.
The San Mateo, California-based company said it had a loss of 17 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 12 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The provider of revenue management services to the life science and technology industries posted revenue of $36.6 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $36 million.
For the year, the company reported that its loss narrowed to $19.3 million, or 60 cents per share. Revenue was reported as $141.2 million.
For the current quarter ending in January, Model N expects its per-share earnings to range from 5 cents to 7 cents.
The company said it expects revenue in the range of $37 million to $37.4 million for the fiscal first quarter.
Model N expects full-year earnings in the range of 22 cents to 31 cents per share, with revenue ranging from $152 million to $155 million.
Model N shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.40, a climb of 94% in the last 12 months.