MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported a loss of $5.1 million in its fourth quarter.
The McLean, Virginia-based company said it had a loss of 7 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 15 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The business process management software provider posted revenue of $202.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $189.1 million.
For the year, the company reported net income of $1.2 million, or 2 cents per share, swinging to a profit in the period. Revenue was reported as $726.9 million.
For the current quarter ending in March, Appian expects its per-share earnings to range from 16 cents to 20 cents.
The company said it expects revenue in the range of $189 million to $193 million for the fiscal first quarter.
Appian expects full-year earnings in the range of 82 cents to 96 cents per share, with revenue expected to be $817 million.
Appian shares have declined 32% since the beginning of the year. The stock has fallen 25% in the last 12 months.
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