Alarm.com: 2Q Earnings Snapshot
TYSONS, Va. (AP) _ Alarm.com Holdings Inc. (ALRM) on Tuesday reported second-quarter profit of $10.7 million.
The Tysons, Virginia-based company said it had net income of 22 cents per share. Earnings, adjusted for one-time gains and costs, were 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The security service company posted revenue of $104.5 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $94.7 million.
Alarm.com expects full-year earnings in the range of $1.19 to $1.20 per share, with revenue in the range of $388 million to $390.5 million.
Alarm.com shares have climbed 19 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.94, an increase of 15 percent in the last 12 months.