Varonis: 4Q Earnings Snapshot

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported fourth-quarter earnings of $6.5 million.

On a per-share basis, the New York-based company said it had profit of 20 cents. Earnings, adjusted for stock option expense, were 54 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The data-management software company posted revenue of $87.5 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $87.3 million.

For the year, the company reported that its loss widened to $28.6 million, or 98 cents per share. Revenue was reported as $270.3 million.

For the current quarter ending in April, Varonis expects its results to range from a loss of 38 cents per share to a loss of 36 cents per share.

The company said it expects revenue in the range of $58.5 million to $60 million for the fiscal first quarter.

Varonis expects full-year earnings in the range of 4 cents to 16 cents per share, with revenue ranging from $297 million to $305 million.

Varonis shares have risen 21 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.96, an increase of 22 percent in the last 12 months.

_____

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