Varonis: Q1 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Varonis Systems Inc. (VRNS) on Monday reported a loss of $40.5 million in its first quarter.

The New York-based company said it had a loss of 37 cents per share. Losses, adjusted for one-time gains and costs, were 3 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The data-management software company posted revenue of $114 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $113.8 million.

For the current quarter ending in June, Varonis expects its results to range from a loss of 3 cents per share to a loss of 2 cents per share.

The company said it expects revenue in the range of $123 million to $126 million for the fiscal second quarter.

Varonis expects full-year earnings in the range of 13 cents to 16 cents per share, with revenue ranging from $536 million to $546 million.

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