Guidewire Software Q3 Adj. Profit Misses Estimate

(RTTNews) - Guidewire Software, Inc. (GWRE), a provider of software products for property and casualty insurers, reported a net loss for the third quarter of $3.0 million or $0.04 per share, compared to a net loss of $1.9 million or $0.03 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $2.7 million or $0.04 per share, compared to $7.5 million or $0.11 per share in the prior year quarter.

Total revenue for the third quarter rose to $85.4 million from $82.0 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.05 per share on revenue of $81.80 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $119.3 million to $123.3 million, earnings of $0.04 to $0,07 per share and adjusted earnings of $0.23 to $0.28 per share. Analysts currently expect the company to earn $0.25 per share on revenue of $123.55 million for the fourth quarter.

For the fiscal year 2015, the company now forecasts revenue of $374.0 million to $378.0 million, earnings of $0.02 to $0.04 per share and adjusted earnings fo $0.52 to $0.57 per share. Previously, the company expected revenues of $362.7 million to $378.4 million and adjusted earnings of $0.51 to $0.58 per share.

Analysts currently expect the company to earn $0.55 per share on revenue of $373.99 million for the fiscal year 2015.