Bandwidth: 4Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Wednesday reported a loss of $1.3 million in its fourth quarter.
The Raleigh, North Carolina-based company said it had a loss of 7 cents per share. Losses, adjusted for one-time gains and costs, were 4 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The enterprise software developer posted revenue of $52.3 million in the period.
For the year, the company reported profit of $17.9 million, or 85 cents per share. Revenue was reported as $204.1 million.
For the current quarter ending in April, Bandwidth expects its results to range from a loss of 30 cents per share to a loss of 27 cents per share.
The company said it expects revenue in the range of $51 million to $51.5 million for the fiscal first quarter.
Bandwidth expects full-year results to range from a loss of 74 cents per share to a loss of 64 cents per share, with revenue ranging from $231.5 million to $233.5 million.
Bandwidth shares have climbed 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $48.54, more than doubling in the last 12 months.