AUSTIN, Texas (AP) _ SolarWinds Corp. (SWI) on Tuesday reported fourth-quarter net income of $13.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Austin, Texas-based company said it had profit of 4 cents. Earnings, adjusted for one-time gains and costs, came to 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The provider of information-technology management software posted revenue of $247.5 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $251.5 million.
For the year, the company reported profit of $18.4 million, or 6 cents per share. Revenue was reported as $932.5 million.
For the current quarter ending in April, SolarWinds expects its per-share earnings to range from 20 cents to 21 cents.
The company expects full-year earnings in the range of 88 cents to 91 cents per share.
SolarWinds shares have climbed 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.10, an increase of 17% in the last 12 months.