SAN MATEO, Calif. (AP) _ Model N Inc. (MODN) on Tuesday reported a loss of $3 million in its fiscal first quarter.
The San Mateo, California-based company said it had a loss of 9 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The provider of revenue management services to the life science and technology industries posted revenue of $38.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $37.2 million.
For the current quarter ending in April, Model N expects its per-share earnings to range from 1 cent to 3 cents.
The company said it expects revenue in the range of $38.8 million to $39.2 million for the fiscal second quarter.
Model N expects full-year earnings in the range of 25 cents to 31 cents per share, with revenue ranging from $154 million to $156 million.
Model N shares have declined 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.84, more than doubling in the last 12 months.