Cognyte Software Ltd. (CGNT) reported Loss for the first quarter that decreased from last year
The company's earnings totaled -$5.117 million, or -$0.07 per share. This compares with -$8.753 million, or -$0.13 per share, in last year's first quarter.
Excluding items, Cognyte Software Ltd. reported adjusted earnings of -$2.494 million or -$0.04 per share for the period.
The company's revenue for the quarter rose 12.9% to $82.714 million from $73.266 million last year.
Looking ahead to the full year, Cognyte Software Ltd. has revised up its annual outlook. The company now expects adjusted loss of $0.07 at the midpoint of its revenue outlook, which is projected to be $344 million at the midpoint with a range of positive or negative 2%. This represents around 10 percent growth from the previous year. Earlier, the company had projected adjusted loss per share of $0.13, on revenue of $340 million. On average, three analysts, polled by Thomson Reuters forecast the firm to post a loss of $0.12 per share, on revenue of $339.02 million, for the year. Analysts' estimates typically exclude special items. CGNT was trading up by 3.25 percent at $8.27 in the pre-market trade on the Nasdaq.
Earnings at a glance (GAAP) :
-Earnings (Q1): -$5.117 Mln. vs. -$8.753 Mln. last year.
-EPS (Q1): -$0.07 vs. -$0.13 last year.
-Revenue (Q1): $82.714 Mln vs. $73.266 Mln last year.
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