Varonis: Q1 Earnings Snapshot

Associated Press Finance
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NEW YORK (AP) — NEW YORK (AP) — Varonis Systems Inc. (VRNS) on Monday reported a loss of $38.3 million in its first quarter.

The New York-based company said it had a loss of 35 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to less than 1 cent on a per-share basis.

The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The data-management software company posted revenue of $107.3 million in the period, which met Street forecasts.

For the current quarter ending in June, Varonis expects its per-share earnings to range from 1 cent to 2 cents.

The company said it expects revenue in the range of $118 million to $120 million for the fiscal second quarter.

Varonis expects full-year earnings in the range of 30 cents to 34 cents per share, with revenue ranging from $510 million to $520 million.

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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

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