Qualys Inc. shares surged in the extended session Wednesday after the cloud security company’s results and outlook topped Wall Street expectations.
Qualys QLYS, -0.53% shares rallied 11% after hours, following a 0.5% decline in the regular session to close at $ 94.38.
The company reported first-quarter net income of $ 228,000, or a penny a share, because of accelerated vesting of equity awards to its former chief executive, Philippe Courtot, who stepped down recently for health reasons. That’s compared with $ 18.7 million, or 46 cents a share, in the year-ago period. Adjusted earnings were 74 cents a share, compared with 65 cents a share in the year-ago quarter.
Revenue rose to $ 96.8 million from $ 86.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 68 cents a share on revenue of $ 95.2 million.
In a statement, Sumedh Thakar, Qualys CEO, said that continued adoption of the company’s Vulnerability Management, Detection and Response application “continues to be a strategically important driver” to the company’s long-term growth.
Qualys expects earnings of 67 cents to 69 cents a share on revenue of $ 98.6 million to $ 99.2 million in the second quarter, while analysts had forecast earnings of 65 cents a share on revenue of $ 97.9 million.
For the year, the company expects earnings of $ 2.67 to $ 2.72 a share on revenue of $ 402.5 million to $ 404.5 million, while analysts forecast $ 2.65 a share on revenue of $ 400.5 million.