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Mitek Systems: Fiscal 2Q Earnings Snapshot

SAN DIEGO (AP) _ Mitek Systems Inc. (MITK) on Thursday reported fiscal second-quarter net income of $908,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Diego-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The mobile imaging software company posted revenue of $23.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $23.1 million.

Mitek Systems shares have risen 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.33, a fall of 20% 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 MITK at https://www.zacks.com/ap/MITK