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Guidewire Software Beats Q1 Estimates

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Guidewire Software Inc (NYSE: GWRE) announced total revenue for the first quarter of fiscal 2015 was $79.7 million, above estimates of $75.98 million and an increase of 20 percent from the comparable period in fiscal 2014.

Non-GAAP net income was $5.7 million for the first quarter of fiscal 2015, compared to a net loss of $2.0 million in the comparable period in fiscal 2014.

Non-GAAP net income per diluted share was $0.08, above estimates of $0.03, based on diluted weighted average shares outstanding of 71.6 million, compared to net loss per share of $0.03 for the first quarter of fiscal 2014, based on diluted weighted average shares outstanding of 58.6 million.

GAAP net loss was $3 million for the first quarter of fiscal 2015, compared to $6.4 million for the comparable period in fiscal 2014. GAAP net loss per share was $0.04, based on basic and diluted weighted average shares outstanding of 69.3 million, compared to net loss per share of $0.11 for the comparable period in fiscal 2014, based on basic and diluted weighted average shares outstanding of 58.6 million.

"Revenue and profitability were above the high end of our expectations for the first quarter of fiscal 2015," said Marcus Ryu, chief executive officer, Guidewire Software. "This reflected continuing demand both domestically and internationally for all three applications in Guidewire InsuranceSuite, as well as our additional offerings leveraging the data and business logic in the Suite.”

The company guided Q2 Revenue to $81.6-88.6 million with EPS of $0.09-$0.12, inline with estimates.

Guidewire Software traded at $52.00 in the after-hours session, up 3.17 percent.

Posted-In: Earnings News After-Hours Center

 

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