MOORESTOWN, N.J. (AP) _ Tabula Rasa Healthcare Inc. (TRHC) on Wednesday reported a loss of $11 million in its first quarter.
On a per-share basis, the Moorestown, New Jersey-based company said it had a loss of 54 cents. Earnings, adjusted for stock option expense and amortization costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The developer of health care software posted revenue of $61 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $59.2 million.
For the current quarter ending in July, Tabula Rasa Healthcare said it expects revenue in the range of $68 million to $73 million.
The company expects full-year revenue in the range of $280 million to $290 million.
Tabula Rasa Healthcare shares have declined 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52, an increase of 21% 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 TRHC at https://www.zacks.com/ap/TRHC