Tyler Technologies Q3 Profit Tops Estimates

(RTTNews) - Tyler Technologies, Inc. (TYL) reported that its third-quarter net income increased to $17.0 million, or $0.48 per share, from $11.0 million, or $0.32 per share, for the third quarter of 2013. Non-GAAP net income for the quarter was $21.0 million, or $0.59 per share.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.51 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $128.7 million in the third quarter of 2014, up 20.2 percent from $107.0 million in the third quarter of 2013. Analysts expected revenue of $124.25 million for the quarter.

Tyler Technologies expects full-year 2014 total revenues to be in the range of $489 million to $494 million, earnings per share to be approximately $1.63 to $1.69, and non-GAAP earnings per share to be approximately $2.06 to $2.12. Analysts expect the company to report full year 2014 earnings per share of $1.99 on revenue of $487.54 million.