Tangoe beats 4Q profit forecasts

ORANGE, Conn. (AP) _ Tangoe Inc. (TNGO) on Thursday reported fourth-quarter net income of $2.7 million.

The Orange, Connecticut-based company said it had profit of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The business software maker posted revenue of $54.9 million in the period, which fell short of Street forecasts. Analysts expected $55.3 million, according to Zacks.

For the year, the company reported profit of $2.9 million, or 7 cents per share. Revenue was reported as $212.5 million.

For the current quarter ending in March, Tangoe expects its per-share earnings to range from 16 cents to 17 cents.

The company said it expects revenue in the range of $55.2 million to $55.9 million for the fiscal first quarter.

Tangoe expects full-year earnings in the range of 77 cents to 82 cents per share, with revenue ranging from $238 million to $243 million.

Tangoe shares have decreased 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.69, a drop of 38 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TNGO at http://www.zacks.com/ap/TNGO

_____

Keywords: Tangoe, Earnings Report

Source Article from http://finance.yahoo.com/news/tangoe-beats-4q-profit-forecasts-233345636.html

This entry was posted in News & Info. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*