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Varonis: 2Q Earnings Snapshot

July 29, 2019

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $24.5 million in its second quarter.

The New York-based company said it had a loss of 81 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 30 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.

The data-management software company posted revenue of $59.6 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $62.4 million.

For the current quarter ending in October, Varonis expects its results to range from a loss of 36 cents per share to a loss of 34 cents per share.

The company said it expects revenue in the range of $61 million to $62.5 million for the fiscal third quarter.

Varonis expects full-year results to range from a loss of 93 cents per share to a loss of 90 cents per share, with revenue ranging from $255.5 million to $259.5 million.

Varonis shares have climbed 31% since the beginning of the year. In the final minutes of trading on Monday, shares hit $69.38, a decrease of 8.5% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRNS at https://www.zacks.com/ap/VRNS

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