WOODLAND HILLS, Calif. (AP) 鈥� WOODLAND HILLS, Calif. (AP) 鈥� BlackLine, Inc. (BL) on Tuesday reported first-quarter profit of $8.1 million.
The Woodland Hills, California-based company said it had profit of 13 cents per share. Earnings, adjusted for one-time gains and costs, were 56 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The company posted revenue of $183.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $180.9 million.
For the current quarter ending in June, BlackLine expects its per-share earnings to range from 57 cents to 59 cents.
The company said it expects revenue in the range of $186 million to $188 million for the fiscal second quarter.
BlackLine expects full-year earnings in the range of $2.42 to $2.53 per share, with revenue ranging from $765 million to $769 million.
BlackLine shares have dropped 42% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $32.34, a drop of 31% in the last 12 months.
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