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SailPoint Technologies: 3Q Earnings Snapshot

AUSTIN, Texas (AP) _ SailPoint Technologies Holdings Inc. (SAIL) on Wednesday reported third-quarter earnings of $3.7 million.

On a per-share basis, the Austin, Texas-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, were 7 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The identity governance software developer posted revenue of $75.9 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $70.6 million.

For the current quarter ending in December, SailPoint Technologies expects its per-share earnings to range from 7 cents to 8 cents.

The company said it expects revenue in the range of $84.5 million to $86 million for the fiscal fourth quarter.

SailPoint Technologies expects full-year earnings in the range of 13 cents to 14 cents per share, with revenue ranging from $284 million to $285.5 million.

SailPoint Technologies shares have dropped 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.13, a decline of 20% 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