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Guidewire Software issues guidance for fiscal Q4'17

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Guidewire Software issues guidance for fiscal Q4'17

Guidewire Software Inc. issued its financial outlook for the fiscal fourth quarter of 2017 and changed its guidance for the fiscal year.

For its fiscal fourth quarter ending July 31, Guidewire Software expects revenue of between $165.8 million and $169.8 million. The company projects GAAP income from operations of between $16.5 million and $20.5 million and non-GAAP income from operations of between $39.4 million and $43.4 million.

The company expects GAAP net income of between $9.1 million and $11.2 million, or between 12 cents per share and 15 cents per share, for the fiscal fourth quarter. It anticipates non-GAAP net income of between $27.3 million and $30.1 million, or between 36 cents per share and 40 cents per share, for the fiscal fourth quarter.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal fourth quarter is 45 cents.

For the full fiscal year, Guidewire Software now expects revenue of between $499.0 million and $503.0 million, compared with the previously expected range of $491.0 million to $499.0 million. The company now projects GAAP income from operations of between $2 million and $6 million, compared with the previously expected GAAP operating loss of between $6.6 million and $14.6 million. It expects non-GAAP operating income of $86.0 million to $90.0 million, compared with the previously expected range of $70.0 million to $78.0 million.

The company now projects GAAP net income of between $3.4 million and $5.5 million, or 5 cents per share to 7 cents per share, for the full fiscal year. It previously projected a GAAP net loss of $3.1 million to $9.0 million, or a loss of 4 cents per share to 12 cents per share. It now expects non-GAAP net income of $61.4 million to $64.1 million, or 82 cents per share to 86 cents per share. The previously expected non-GAAP net income range was $50.1 million to $55.6 million, or 67 cents per share to 74 cents per share, for the fiscal year.

The S&P Capital IQ consensus normalized EPS estimate for the year is 72 cents.

Guidewire Software reported a fiscal third-quarter GAAP net loss of $1.8 million, or a loss of 2 cents per share, compared with a GAAP net loss of $404,000, or a loss of 1 cent per share, in the prior-year fiscal quarter. Fiscal third-quarter non-GAAP net income was $12.3 million, or 16 cents per share, compared with $10.7 million, or 14 cents per share, in the year-ago fiscal quarter.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal third quarter called for a loss of 3 cents.