LONDON (AP) _ Mimecast Ltd. (MIME) on Monday reported fiscal first-quarter net income of $3.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the London-based company said it had profit of 5 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The cloud security services provider posted revenue of $115.2 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $113.3 million.
For the current quarter ending in October, Mimecast said it expects revenue in the range of $120.8 million to $121.8 million.
The company expects full-year revenue in the range of $488.1 million to $493.1 million.
Mimecast shares have increased 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $46.83, a fall of 1% in the last 12 months.