Entrust Expects To Post 1Q Profit
DALLAS (AP) ¿ Digital security software company Entrust Inc., which agreed to be sold to Thoma Bravo LLC, said Monday it expects first-quarter earnings of $1.7 million, or 3 cents per share.
This is up from a loss of $1.2 million, or 2 cents per share, in the same period a year earlier. Excluding items, the company expects a profit of 4 cents per share.
Analysts, on average, are expecting a profit of 3 cents per share, according to a poll by Thomson Reuters. Analysts typically exclude one-time items from their estimates.
The company expects sales of $22.6 million, down 12 percent from $25.8 million a year earlier. Analysts are expecting $22.3 million.Entrust plans to release full financial results for its fiscal first quarter on April 28. As part of the buyout deal, Entrust said its shareholders will receive $1.85 in cash for each Entrust share they hold. Shares rose 14 cents, or 8.4 percent, to $1.81 in premarket trading.
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