MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported third-quarter net income of $7.8 million, after reporting a loss in the same period a year earlier.
The McLean, Virginia-based company said it had net income of 10 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 32 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The business process management software provider posted revenue of $187 million in the period.
For the current quarter ending in December, Appian expects its per-share earnings to range from 4 cents to 8 cents.
The company said it expects revenue in the range of $187 million to $191 million for the fiscal fourth quarter.
Appian expects full-year earnings in the range of 50 cents to 54 cents per share, with revenue ranging from $711 million to $715 million.
Appian shares have decreased 11% since the beginning of the year. The stock has declined 24% in the last 12 months.
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