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Tyler Technologies tops 1Q profit forecasts

PLANO, Texas (AP) _ Tyler Technologies Inc. (TYL) on Wednesday reported first-quarter profit of $32.3 million.

The Plano, Texas-based company said it had profit of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to 90 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.

The information management software provider posted revenue of $199.5 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $201.7 million.

Tyler Technologies expects full-year earnings in the range of $3.83 to $3.91 per share, with revenue in the range of $844 million to $854 million.

Tyler Technologies shares have increased 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $162.05, a climb of 15 percent 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 TYL at https://www.zacks.com/ap/TYL

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Keywords: Tyler Technologies, Earnings Report