Varonis: 1Q Earnings Snapshot

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $22.6 million in its first quarter.

The New York-based company said it had a loss of 76 cents per share. Losses, adjusted for stock option expense and pretax expenses, were 38 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 36 cents per share.

The data-management software company posted revenue of $56.4 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $59.3 million.

For the current quarter ending in July, Varonis expects its results to range from a loss of 33 cents per share to a loss of 30 cents per share.

The company said it expects revenue in the range of $61.5 million to $63 million for the fiscal second quarter.

Varonis expects full-year results to range from a loss of 54 cents per share to a loss of 42 cents per share, with revenue ranging from $271 million to $278 million.

Varonis shares have risen 26% since the beginning of the year. In the final minutes of trading on Monday, shares hit $66.82, a climb of almost 4% 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 VRNS at https://www.zacks.com/ap/VRNS