WOODLAND HILLS, Calif. (AP) — WOODLAND HILLS, Calif. (AP) — BlackLine, Inc. (BL) on Tuesday reported first-quarter net income of $10.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Woodland Hills, California-based company said it had profit of 17 cents. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The company posted revenue of $157.5 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $155 million.
For the current quarter ending in June, BlackLine expects its per-share earnings to range from 49 cents to 51 cents.
The company said it expects revenue in the range of $157 million to $159 million for the fiscal second quarter.
BlackLine expects full-year earnings in the range of $2.12 to $2.26 per share, with revenue ranging from $641.5 million to $649.5 million.
BlackLine shares have declined 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $60.43, an increase of 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BL at https://www.zacks.com/ap/BL
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