MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported a loss of $1.2 million in its first quarter.
On a per-share basis, the McLean, Virginia-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, were 13 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The business process management software provider posted revenue of $166.4 million in the period.
For the current quarter ending in June, Appian expects its results to range from a loss of 15 cents per share to a loss of 11 cents per share.
The company said it expects revenue in the range of $158 million to $162 million for the fiscal second quarter.
Appian expects full-year earnings in the range of 18 cents to 26 cents per share, with revenue ranging from $680 million to $688 million.
Appian shares have declined nearly 8% since the beginning of the year. The stock has declined 4.5% in the last 12 months.
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