Guidewire Software: Fiscal 4Q Earnings Snapshot
FOSTER CITY, Calif. (AP) _ Guidewire Software Inc. (GWRE) on Thursday reported fiscal fourth-quarter net income of $23 million.
On a per-share basis, the Foster City, California-based company said it had net income of 28 cents. Earnings, adjusted for one-time gains and costs, were 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The provider of software to the insurance industry posted revenue of $207.9 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $205 million.
For the year, the company reported net income of $20.7 million, or 25 cents per share, swinging to a profit in the period. Revenue was reported as $719.5 million.
For the current quarter ending in November, Guidewire Software expects its per-share earnings to range from 1 cent to 5 cents.
The company said it expects revenue in the range of $149 million to $153 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $183.9 million.
Guidewire Software expects full-year earnings in the range of $1.10 to $1.22 per share, with revenue ranging from $759 million to $771 million.
Guidewire Software shares have risen 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $95.40, a decline of almost 2% in the last 12 months.