LONDON (AP) _ Mimecast Ltd. (MIME) on Tuesday reported fiscal fourth-quarter profit of $5.8 million.
The London-based company said it had net income of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The cloud security services provider posted revenue of $133.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $131.1 million.
For the year, the company reported net income of $29.7 million, or 45 cents per share, swinging to a profit in the period. Revenue was reported as $501.4 million.
For the current quarter ending in July, Mimecast said it expects revenue in the range of $137.2 million to $138.6 million.
The company expects full-year revenue in the range of $569.7 million to $579.7 million.
Mimecast shares have fallen 24% since the beginning of the year. The stock has risen nearly 6% in the last 12 months.
The Associated Press