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Varonis Systems Posts Q3 Loss In Line

Varonis Systems (VRNS) is higher after the company reported late Thursday that for Q3 ended Sept. 30, 2014, its loss matched analysts’ expectations, and revenue was better-than-expected; it also provided guidance for Q4 in line with forecasts. Shares are up 11.54% at $20.97 with a 52-week range of $17.50 – $56.80.

The provider of a software platform allowing enterprises to map, analyze, manage and migrate their unstructured data posted a Q3 GAAP net loss of $6.4 million or $0.26 loss per share, compared with the prior-year period’s $2.6 million or $0.66 loss per share. The non-GAAP net loss was $5.1 million or a $0.21 loss per share, versus $1.1 million or $0.06 loss per share in the same quarter the previous year. Revenue was $25.6 million, up 38.1% from $18.5 million in the same quarter last year. Analysts polled by Capital IQ were expecting a loss of $0.21 per share on revenues of $24.31 million. The company expects Q4 EPS of $0.02 – $0.06 on revenue of $33.2 million – $33.9. The Street view is for EPS of $0.06 on revenues of $33.56 million.

In other earnings news, First Solar (FSLR) dropped nearly 9% Friday after the solar panel maker reported Q3 sales of $889 million, below the analyst consensus of $1.058 billion on Capital IQ and adjusted EPS that fell short of analyst estimates. Q3 adjusted earnings, excluding a one-time tax benefit of $0.26 per share, totaled $0.61 per diluted share, falling short of the consensus of $0.64 per share. GAAP EPS was $0.87, vs. the Street view of GAAP EPS of $0.61 per share.

For the full year 2014, the company reaffirmed its EPS guidance of $2.40 to $2.80 per share and operating cash flow guidance of $300 to $500 million. The Street view is $3.60 per share. Sales are seen at $3.6 to $3.9 billion, vs. its previous view of $3.7 to $4.0 billion and in line with the consensus of $3.77 billion.

 

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