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Upland Software reports 4Q loss

AUSTIN, Texas (AP) _ Upland Software Inc. (UPLD) on Thursday reported a loss of $2 million in its fourth quarter.

On a per-share basis, the Austin, Texas-based company said it had a loss of 12 cents. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The maker of cloud-based enterprise work-management software posted revenue of $19.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $19 million.

For the year, the company reported that its loss narrowed to $13.5 million, or 82 cents per share. Revenue was reported as $74.8 million.

For the current quarter ending in April, Upland Software said it expects revenue in the range of $20 million to $20.8 million.

The company expects full-year revenue in the range of $82.5 million to $86.5 million.

Upland Software shares have risen 61 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.44, more than doubling 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 UPLD at https://www.zacks.com/ap/UPLD

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Keywords: Upland Software, Earnings Report