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Mitek Systems: Fiscal 2Q Earnings Snapshot

SAN DIEGO (AP) _ Mitek Systems Inc. (MITK) on Wednesday reported a loss of $716,000 in its fiscal second quarter.

On a per-share basis, the San Diego-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, were 7 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The mobile imaging software company posted revenue of $20 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $19.2 million.

Mitek Systems expects full-year revenue in the range of $84 million to $86 million.

Mitek Systems shares have increased 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.06, a rise of 52% 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