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Ellie Mae raises FY'16 outlook

Ellie MaeInc. now estimates revenue to be in the range of $325.0 million to$329.0 million for 2016, an increase from the range of $317.0 million to$321.0 million.

For the same period, net income should be $23.5 million to$25.5 million, or 74 cents per share to 80 cents per share, up from theprevious range of $22.2 million to $24.2 million, or 71 cents per share to 76cents per share.

Adjusted net income should be in the range of $58.4 millionto $61.4 million, or $1.84 per share to $1.92 per share, an increase from theprevious range of $56.1 million to $59.1 million, or $1.79 per share to $1.86per share. Adjusted EBITDA is expected to be in the range of $93.0 million to$97.5 million, up from the previous range of $90.0 million to $94.5 million.

The S&P Capital IQ consensus normalized EPS estimate for2016 is $1.88.

For the second quarter, the company expects revenue to be inthe range of $84.0 million to $86.0 million. Net income should be in the rangeof $7.5 million to $8.0 million, or 24 cents per share to 25 cents per share.Adjusted net income is expected to be in the range of $16.6 million to $17.6million, or 53 cents per share to 56 cents per share. Adjusted EBITDA should bein the range of $25.5 million to $27.0 million.

Ellie Mae reported first-quarter net income of $2.5 million,or 8 cents per share, compared with $3.6 million, or 12 cents per share, a yearago. Adjusted net income was $10.7 million, or 34 cents per share, comparedwith $9.9 million, or 33 cents per share, in the year-ago period, according toan April 28 earnings release.

The S&P Capital IQ consensus normalized EPS estimate forthe first quarter was 31 cents.