Thursday, infrastructure software company Autonomy Corp. plc (AU.L) issued forecast for the first quarter and said it expects earnings per share to be significantly ahead of the analyst view. In addition, the company provided revenue outlook for the first quarter, above the Consensus.
The company forecast first quarter per-share earnings to be significantly ahead of analyst consensus estimates of 15 cents. Quarterly revenues are projected to be between $128 million and $130 million, compared to analyst consensus revenue estimate of $126 million.
Mike Lynch, Group CEO of Autonomy commented, We are very pleased with these results, which we've achieved in a quarter during which we announced and completed a major acquisition and seen significant economic uncertainty around the globe.
Further, the company noted that its business outperformed estimates and the Interwoven business operated for the stub period as expected. These results are preliminary and subject to the usual quarterly financial review by Autonomy's independent auditors, the company said.
In the preceding fourth quarter, the company posted a more than two-fold increase in profit, helped by a 26% growth in revenues. Fourth-quarter net profit, on an International Financial Reporting Standards, or IFRS, basis totaled $51.4 million or $0.24 per share, higher than $22.74 million or $0.11 per share in the previous year. Revenues advanced 26% to $145.39 million from $115.11 million in the year-ago quarter.
Among others in the sector, EMC Corp. (EMC) would release first-quarter results on April 23. Analysts polled by Thomson Reuters expect the company to report earnings of $0.17 per share on revenues of $3.27 billion for the quarter. Analysts' estimates typically exclude special items.
Autonomy is currently trading at 1,351.00 pence, up 16.00p or 1.20%. During the day, AU.L shares touched a high of 1,394p and a low of 1,351p. In the past 52-weeks, the stock has been trading between 704p and 1,421p.
For comments and feedback: contact email@example.com