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SailPoint Technologies: 1Q Earnings Snapshot

AUSTIN, Texas (AP) _ SailPoint Technologies Holdings Inc. (SAIL) on Wednesday reported a loss of $8.4 million in its first quarter.

On a per-share basis, the Austin, Texas-based company said it had a loss of 10 cents. Earnings, adjusted for stock option expense and amortization costs, came to less than 1 cent on a per-share basis.

The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The identity governance software developer posted revenue of $60.6 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $60.3 million.

For the current quarter ending in July, SailPoint Technologies expects its per-share loss to be 5 cents.

The company said it expects revenue in the range of $59.7 million to $61.2 million for the fiscal second quarter.

SailPoint Technologies expects full-year earnings in the range of 14 cents to 15 cents per share, with revenue ranging from $277 million to $281.5 million.

SailPoint Technologies shares have increased 16% since the beginning of the year. The stock has increased slightly more than 9% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAIL at https://www.zacks.com/ap/SAIL