MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported a loss of $1.5 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 stock option expense and non-recurring costs, came to 27 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The business process management software provider posted revenue of $202.2 million in the period.
For the current quarter ending in June, Appian expects its results to range from a loss of 2 cents per share to earnings of 2 cents per share.
The company said it expects revenue in the range of $191 million to $195 million for the fiscal second quarter.
Appian expects full-year earnings in the range of 94 cents to $1.05 per share, with revenue ranging from $819 million to $831 million.
Appian shares have fallen 35% since the beginning of the year. The stock has declined 25% in the last 12 months.
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