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Varonis: 3Q Earnings Snapshot

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $17 million in its third quarter.

The New York-based company said it had a loss of 56 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 16 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share.

The data-management software company posted revenue of $65.6 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $61.5 million.

For the current quarter ending in December, Varonis expects its results to range from a loss of 13 cents per share to a loss of 7 cents per share.

The company said it expects revenue in the range of $70.5 million to $73.5 million for the fiscal fourth quarter.

Varonis expects full-year results to range from a loss of 96 cents per share to a loss of 90 cents per share, with revenue ranging from $252 million to $255 million.

Varonis shares have increased 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $62.72, a rise of slightly more than 1% 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 VRNS at https://www.zacks.com/ap/VRNS