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Model N reports 1Q loss

SAN MATEO, Calif. (AP) _ Model N Inc. (MODN) on Tuesday reported a loss of $5.3 million in its fiscal first quarter.

On a per-share basis, the San Mateo, California-based company said it had a loss of 18 cents. Earnings, adjusted for stock option expense and amortization costs, were 3 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The provider of revenue management services to the life science and technology industries posted revenue of $39.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $37.3 million.

For the current quarter ending in April, Model N expects its results to range from a loss of 5 cents per share to a loss of 3 cents per share.

The company said it expects revenue in the range of $38 million to $38.5 million for the fiscal second quarter.

Model N expects full-year results to range from a loss of 10 cents per share to a loss of 3 cents per share, with revenue ranging from $149 million to $151 million.

Model N shares have dropped 13 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.75, an increase of 49 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 MODN at https://www.zacks.com/ap/MODN