Bottomline Technologies Inc. (EPAY), a provider of cloud-based payment sevices, Thursday reported a smaller loss for the first quarter, as revenues jumped 21 percent. Both adjusted earnings and revenues for the quarter trumped Wall Street analysts' estiamtes.
The Portsmouth, New Hampshire-based company's first-quarter loss of $3.27 million or $0.09 per share, narrower than last year's loss of $6.05 million or $0.17 per share.
Core net income, which exclude one-time items, for the quarter rose to $13.92 million or $0.37 per share from $10.20 million or $0.28 per share last year. On average, eight analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the first quarter rose 21 percent to $81.34 million from $67.25 million last year. Analysts had a consensus revenue estimate of $80.19 million for the quarter.
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