AVG Technologies N.V. (AVG) Wednesday reported first-quarter profit of $24.4 million or $0.45 per share, up from $10.9 million or $0.21 per share in the equivalent period last year.
Adjusted earnings for the quarter was $31.8 million or $0.58 per share. On average, six analysts polled by Thomson Reuters expected the company to earn $0.38 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 26 percent to $104.7 million from $83.0 million last year. Analysts expected revenues of $97.25 million.
Looking ahead to the second quarter, the company has forecast earnings in the range of $0.25 to $0.32 per share, with adjusted earnings in the order of $0.39 to $0.45 per share.
Revenues are projected in at approximately $100 million. Analysts currently expect second-quarter earnings of $0.44 per share and revenues of $99.51 million.
For the fiscal year 2013, the company has raised its outlook to a range of $1.29 to $1.49 per share from the previous guidance range of $1.74 to $1.94 per share. Adjusted earnings are expected to range between $1.74 and $1.94 per share. Revenues are projected in the range of $414 million to $422 million.
Analysts currently expect the company to report full-year earnings of $1.80 per share on revenues of $411.03 million.
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