CommVault Systems, Inc., (CVLT), a provider of data and information management software applications and related services, Tuesday reported an increase in net income for the fourth quarter, backed by higher revenues across all its segments. Adjusted earnings per share came in above estimates.
For the three-month period, the company reported net income of $17 million or $0.35 per share compared with $9.8 million or $0.21 per share during the corresponding quarter last year.
On an adjusted basis, the firm reported earnings per share of $0.41 per share. On average, sixteen analysts polled by Thomson Reuters expected earnings per share of $0.34 for the quarter. Analysts' estimates typically exclude one-time items.
Income from operations or EBIT was $21.9 million for the fourth quarter, a 58 percent increase from $13.9 million in the comparable period last year.
The firm generated total revenues of $138.3 million, a 21 percent increase from the prior year's figure of $114 million. The Street expected the firm to report revenues of $133.4 million for the quarter.
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