Model N: Fiscal 3Q Earnings Snapshot
SAN MATEO, Calif. (AP) _ Model N Inc. (MODN) on Tuesday reported a loss of $15.4 million in its fiscal third quarter.
On a per-share basis, the San Mateo, California-based company said it had a loss of 50 cents. Losses, adjusted for stock option expense and amortization costs, were 7 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The provider of revenue management services to the life science and technology industries posted revenue of $39.6 million in the period.
For the current quarter ending in September, Model N expects its results to range from a loss of 3 cents per share to a loss of 1 cent per share.
The company said it expects revenue in the range of $35.2 million to $35.7 million for the fiscal fourth quarter.
Model N expects full-year results to range from a loss of 5 cents per share to a loss of 3 cents per share, with revenue ranging from $153.1 million to $153.6 million.
Model N shares have climbed 17 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.45, an increase of 43 percent in the last 12 months.