Ellie Mae: 3Q Earnings Snapshot

PLEASANTON, Calif. (AP) _ Ellie Mae Inc. (ELLI) on Thursday reported third-quarter net income of $12.4 million.

On a per-share basis, the Pleasanton, California-based company said it had profit of 35 cents. Earnings, adjusted for one-time gains and costs, were 67 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The provider of automation software for the mortgage industry posted revenue of $123 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $128.2 million.

For the current quarter ending in December, Ellie Mae expects its per-share earnings to range from 34 cents to 39 cents.

The company said it expects revenue in the range of $113 million to $116 million for the fiscal fourth quarter.

Ellie Mae expects full-year earnings in the range of $1.84 to $1.88 per share, with revenue ranging from $477 million to $480 million.

Ellie Mae shares have declined 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $79.58, a decrease of 12 percent 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 ELLI at https://www.zacks.com/ap/ELLI