TYSONS, Va. (AP) — TYSONS, Va. (AP) — Alarm.com Holdings Inc. (ALRM) on Thursday reported fourth-quarter profit of $34.7 million.
The Tysons, Virginia-based company said it had net income of 66 cents per share. Earnings, adjusted for one-time gains and costs, were 72 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The security service company posted revenue of $261.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $250.8 million.
For the year, the company reported profit of $132.6 million, or $2.46 per share. Revenue was reported as $1.01 billion.
Alarm.com expects full-year earnings in the range of $2.78 to $2.79 per share, with revenue in the range of $1.06 billion to $1.07 billion.
Alarm.com shares have fallen 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $45.20, a decline of 26% 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 ALRM at https://www.zacks.com/ap/ALRM
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