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TYSONS, Va. (AP) — TYSONS, Va. (AP) — Alarm.com Holdings Inc. (ALRM) on Thursday reported first-quarter net income of $28 million.
On a per-share basis, the Tysons, Virginia-based company said it had profit of 52 cents. Earnings, adjusted for one-time gains and costs, were 54 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The security service company posted revenue of $238.8 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $234.3 million.
Alarm.com expects full-year earnings in the range of $2.32 to $2.33 per share, with revenue in the range of $975.8 million to $991.2 million.
Alarm.com shares have fallen 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $55.31, a decrease of 19% in the last 12 months.
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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 ALRM at https://www.zacks.com/ap/ALRM