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SolarWinds: 1Q Earnings Snapshot

AUSTIN, Texas (AP) _ SolarWinds Corp. (SWI) on Wednesday reported first-quarter net income of $3.1 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The provider of information-technology management software posted revenue of $215.8 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $216.5 million.

For the current quarter ending in July, SolarWinds expects its per-share earnings to range from 18 cents to 19 cents.

The company expects full-year earnings in the range of 80 cents to 82 cents per share.

SolarWinds shares have increased 43 percent since the beginning of the year.

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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 SWI at https://www.zacks.com/ap/SWI