RESTON, Va. (AP) — RESTON, Va. (AP) — Bowman Consulting Group Ltd. (BWMN) on Tuesday reported a loss of $1.7 million in its first quarter.
On a per-share basis, the Reston, Virginia-based company said it had a loss of 11 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 7 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The professional services firm posted revenue of $112.9 million in the period.
Bowman Consulting expects full-year revenue in the range of $428 million to $440 million.
Bowman Consulting shares have dropped 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.67, a decrease of 25% in the last 12 months.
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