Sourcefire Delivers Above-Consensus Quarter
COLUMBIA, Md. ( TheStreet) - Sourcefire (FIRE) continued its momentum on Monday, comfortably surpassing Wall Street's expectations for its first-quarter results on strong demand for its cybersecurity products.
Revenue came in at $46.3 million, a 50% hike on the prior year's quarter, and above analysts' forecast of $41.64 million.
|Sourcefire reported first-quarter results after market close.|
Excluding items, Columbia, Md.-based Sourcefire earned 11 cents a share, up from 4 cents a share in the same period last year. Analysts surveyed by Thomson Reuters were looking for earnings of 8 cents a share.
The Cisco (CSCO) competitor also offered robust second-quarter guidance, predicting revenue between $46.5 million and $48.5 million vs. the average analysts' forecast of $46.45 million. Excluding items, Sourcefire sees adjusted earnings of 12 to 14 cents a share, surrounding the current consensus view for a profit of 13 cents a share."As we look to the future, we are confident in our ability to capture our share of an expanding market opportunity, and to continue to drive meaningful levels of growth," explained Sourcefire CEO John Burris, in a statement released after market close. Investors responded positively to the numbers, pushing Sourcefire's shares up $2.71, or 5.31%, to $53.70 in extended trading. Before the after-hours spike higher, the stock had already doubled in the past year, hitting a 52-week high of $52.54 on Friday. -- Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV