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Correction: Earns-Ellie Mae story

PLEASANTON, Calif. (AP) -- In a story Feb. 9 about Ellie Mae Inc.'s quarterly earnings — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company reported adjusted earnings of 46 cents that missed Wall Street expectations. The company reported adjusted earnings of 57 cents, which topped expectations.

A corrected version of the story is below:

Ellie Mae tops 4Q profit forecasts

Ellie Mae tops 4Q net income, revenue forecasts

PLEASANTON, Calif. (AP) -- PLEASANTON, Calif. (AP) -- Ellie Mae Inc. (ELLI) on Thursday reported fourth-quarter earnings of $10.9 million.

On a per-share basis, the Pleasanton, California-based company said it had profit of 31 cents. Earnings, adjusted for one-time gains and costs, were 57 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The provider of automation software for the mortgage industry posted revenue of $96.2 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $89.4 million.

For the year, the company reported profit of $37.8 million, or $1.15 per share. Revenue was reported as $360.3 million.

For the current quarter ending in April, Ellie Mae expects its per-share earnings to be 21 cents.

The company said it expects revenue in the range of $92 million to $93 million for the fiscal first quarter.

Ellie Mae expects full-year earnings in the range of $1.79 to $1.92 per share, with revenue ranging from $433 million to $440 million.

Ellie Mae shares have climbed almost 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $90.18, a climb of 52 percent in the last 12 months.


Elements of this story were 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


Keywords: Ellie Mae, Earnings Report