Model N: Fiscal 4Q Earnings Snapshot
SAN MATEO, Calif. (AP) _ Model N Inc. (MODN) on Tuesday reported a loss of $3.6 million in its fiscal fourth quarter.
The San Mateo, California-based company said it had a loss of 12 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 6 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The provider of revenue management services to the life science and technology industries posted revenue of $36.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $35.5 million.
For the year, the company reported that its loss narrowed to $28.2 million, or 93 cents per share. Revenue was reported as $154.6 million.
For the current quarter ending in January, Model N expects its results to range from a loss of 1 cent per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $34 million to $34.4 million for the fiscal first quarter.
Model N expects full-year earnings in the range of 5 cents to 17 cents per share, with revenue ranging from $138 million to $142 million.
Model N shares have dropped 5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.95, an increase of roughly 8 percent in the last 12 months.