Guidewire Software: Fiscal 1Q Earnings Snapshot

FOSTER CITY, Calif. (AP) _ Guidewire Software Inc. (GWRE) on Tuesday reported fiscal first-quarter net income of $5.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Foster City, California-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, were 36 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The provider of software to the insurance industry posted revenue of $179.7 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $162.5 million.

For the current quarter ending in February, Guidewire Software expects its per-share earnings to range from 17 cents to 21 cents.

The company said it expects revenue in the range of $157 million to $161 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $172.2 million.

Guidewire Software expects full-year earnings in the range of $1.24 to $1.34 per share, with revenue ranging from $722 million to $732 million.

Guidewire Software shares have climbed 21 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $89.72, an increase of 27 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GWRE at https://www.zacks.com/ap/GWRE