CommVault Q4 Earnings Top Estimates - Quick Facts

(RTTNews) - CommVault Systems, Inc. (CVLT), a provider of data and information management software, Friday reported a drop in fourth-quarter earnings, despite a 13 percent growth in revenue, mainly due to higher income tax expense. However, the company recorded an increase in earnings on an adjusted basis that also surpassed analysts' estimates.

For the fourth quarter, earnings declined to $15.66 million or $0.32 per share, from $16.98 million or $0.35 per share in the same period last year.

Adjusted earnings advanced to $25.51 million or $0.52 per share, from $20.19 million or $0.41 per share a year earlier.

On average, 19 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.47 for the quarter. Analysts's estimates typically exclude one-time items.

Income tax expense rose to $9.44 million from $5.18 million in the same period last year.

Revenues for the 3-month period increased to $156.82 million from $138.27 million a year earlier. Analysts had expected revenues of $160.16 million.

On April 24, the Board of Directors authorized a $50 million increase to its share repurchase, which expires on March 31, 2015.