Qualys Q3 Profit Surges, Results Beat View; Lifts 2014 Outlook - Quick Facts

(RTTNews) - Cloud security and compliance solutions provider Qualys Inc. (QLYS) reported third-quarter net income of $3.21 million or $0.09 per share, up from $1.31 million or $0.04 per share in the year-ago period.

Adjusted net income for the quarter was $5.70 million or $0.15 per share, compared to $2.93 million or $0.08 per share in the prior-year quarter. On average, twelve analysts polled by Thomson Reuters expected the company to earn $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 24 percent to $34.35 million from $27.75 million in the year-ago period, driven by a combination of sales of subscriptions to new customers, as well as subscription renewals and upsells of additional subscriptions to existing customers. Analysts had a consensus revenue estimate of $33.78 million.

Looking ahead to the fourth quarter, Qualys forecasts net income per share in a range of $0.01 to $0.03, adjusted net income per share of $0.08 to $0.10 per share and revenues in a range of $35.5 million to $36.0 million. Street expects the company to report earnings of $0.08per share for the quarter on revenues of $35.30 million.

For fiscal 2014, Qualys now forecasts net income of $0.13 to $0.15 per share, adjusted net income per share of $0.39 to $0.41 per share, and revenue of $132.5 million to $133.0 million. Earlier, the company forecast full-year net income of $0.04 to $0.08 per share, adjusted net income of $0.30 to $0.34 per share, and revenue in a range of $131.0 million to $132.0 million.

Wall Street analysts expect earnings of $0.33 per share for the year on revenues of $131.72 million.