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Veeva beats Street 4Q forecasts

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Tuesday reported fiscal fourth-quarter earnings of $21.7 million.

On a per-share basis, the Pleasanton, California-based company said it had profit of 15 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 22 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $150.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $145.7 million.

For the year, the company reported profit of $68.8 million, or 47 cents per share. Revenue was reported as $544 million.

For the current quarter ending in May, Veeva expects its per-share earnings to be 18 cents.

The company said it expects revenue in the range of $151 million to $152 million for the fiscal first quarter.

Veeva expects full-year earnings in the range of 78 cents to 80 cents per share, with revenue ranging from $655 million to $660 million.

Veeva shares have risen slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $43.69, a climb of 80 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 VEEV at https://www.zacks.com/ap/VEEV

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Keywords: Veeva Systems, Earnings Report