Rally Software Development Posts Narrower-Than-Expected Q1 Loss

reported a narrower-than-expected loss for the first quarter on Thursday. The Boulder, Colorado-based company reported a quarterly loss of $6.9 million, or $0.27 per share, versus a year-ago loss of $8.5 million, or $0.34 per share. Excluding items, the company's adjusted loss came in at $0.20 per share, versus a loss of $0.27 per share, a year ago. Its revenue surged 26 percent year-over-year to $24.5 million. However, analysts were expecting a loss of $0.23 per share on revenue of $24.44 million. Total product revenue surged to $19.5 million, from $16.7 million in the year-earlier quarter. Total paid seats jumped 22 percent to over 276,000 in the quarter. At April 30, 2015, cash and cash equivalents and short-term investments, excluding restricted cash, totaled $67.7 million. Rally Software shares fell 0.10 percent to close at $19.42 during regular trading hours.