TYSONS, Va. (AP) _ Alarm.com Holdings Inc. (ALRM) on Tuesday reported third-quarter net income of $17.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Tysons, Virginia-based company said it had net income of 35 cents. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The security service company posted revenue of $127.9 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $114.6 million.
Alarm.com expects full-year earnings in the range of $1.43 to $1.44 per share, with revenue in the range of $472.6 million to $476.8 million.
Alarm.com shares have fallen roughly 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $51.53, an increase of 12% in the last 12 months.