CyberArk Q2 Net Income Rises - Quick Facts

(RTTNews) - CyberArk, (CYBR) reported second quarter net income of $4.9 million, compared to $1.2 million in the second quarter of 2014. Net income per share was $0.14, compared to a loss per share of $0.01. Non-GAAP net income per share was $0.19, for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.06 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $36.4 million, up 70% year-over-year compared with the second quarter of 2014. Analysts expected revenue of $32.38 million for the quarter.

Udi Mokady, CyberArk CEO, said: "Our business continues to be driven by the shift from tactical, compliance-driven projects to strategic approaches to implementing enterprise-wide privileged account security as privileged accounts remain at the epicenter of cyber attacks. This shift is enabling us to capitalize on expanding cyber security budgets, participate in larger opportunities, and position ourselves as a strategic, trusted partner."

For the third quarter 2015, the company expects total revenue to be in the range of $36.0 million to $37.0 million. Non-GAAP net income per share is expected to be in the range of $0.11 to $0.13. Analysts expect the company to report earnings per share of $0.08 on revenue of $34.28 million.

For the full year 2015, the company expects total revenue to be in the range of $145.0 million to $147.0 million; and non-GAAP net income per share to be in the range of $0.62 to $0.65. Analysts expect the company to report earnings per share of $0.43 on revenue of $140.42 million.

CyberArk announced that it has acquired Cybertinel Ltd., an Israel-based cyber security company. The terms of the acquisition were not disclosed. The company said the acquisition is not expected to have a material impact on its third quarter and full year 2015 financial results.