Guidewire Software Results Top Estimate; Guides Q2, FY Adj. EPs Above Street

(RTTNews) - Guidewire Software Inc (GWRE), a provider of software for the insurance industry, Tuesday reported first-quarter net loss of $3 million or $0.04 per share compared with a loss of $6.4 million or $0.11 per share last year.

Excluding stock-based compensation expense and other items, adjusted earnings for the quarter were $0.08 per share compared with a loss of $0.03 per share a year ago.

Revenues for the quarter were up 20% at $79.7 million compared with $66.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.03 per share on revenues of $76 million for the quarter. Analysts' estimates typically exclude special items.

"Revenue and profitability were above the high end of our expectations for the first quarter of fiscal 2015," said Marcus Ryu, chief executive officer, Guidewire Software. "This reflected continuing demand both domestically and internationally for all three applications in Guidewire InsuranceSuite, as well as our additional offerings leveraging the data and business logic in the Suite."

For the second quarter, the company expects adjusted earnings of $0.09 to $0.12 per share on revenues of $81.6 million to $88.6 million. Analysts expect earnings of $0.08 per share on revenues of $87 million.

For the full year, the company expects adjusted earnings of $0.43 to $0.50 per share on revenues of $366.7 million to $382.4 million. Analysts expect earnings of $0.44 per share on revenues of $376.6 million.

GWRE closed Tuesday at $50.40, down $0.06 or 0.12%, on a volume of 408k shares on the NYSE. In after hours, the stock gained $1.40 or 2.78%.