Cyber-Ark Software Profit Tops Estimate, Outlook Strong; Stock Jumps

(RTTNews) - Cyber-Ark Software Ltd (CYBR) on Wednesday reported an increase in third-quarter profit, helped mainly by higher revenues, with results topping Wall Street estimates.

The company also detailed some strong outlook for the fourth quarter and for the full year 2014.

Cyber-Ark shares gained 14 percent in after-hours trade on the Nasdaq, following the news.

Cyber-Ark, based in Israel, is a provider of cyber security software, and went public in September this year.

Cyber-Ark posted quarterly net earnings of $3.3 million or $0.11 per share, compared with $2.5 million or $0.09 per share last year.

Excluding items, adjusted earnings for the quarter were $0.20 per share.

On average, five analysts polled by Thomson Reuters expected earnings of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the third quarter rose to $28 million from $16.9 million in the prior year. Six analysts had a consensus revenue estimate of $20.9 million for the quarter.

For the fourth quarter, the Cyber-Ark projects adjusted earnings in the range of $0.04 to $0.06 per share on revenues of $26 million to $27 million. Analysts currently expect earnings of $0.02 per share on revenues of $25 million for the quarter.

For the fiscal year 2014, the company now expect adjusted earnings in the range of $0.29 to $0.31 per share on revenues of $92.7 million to $93.7 million. Analysts currently expect earnings of $0.13 per share on revenues of $84.8 million for the year.

CYBR closed Wednesday at $33.70, down $0.19 or 0.56%, on a volume of 947k shares. In after hours, the stock jumped $4.70 or 13.95% at $38.40.