FOSTER CITY, Calif. (AP) _ Guidewire Software Inc. (GWRE) on Wednesday reported fiscal fourth-quarter net income of $83.4 million.
The Foster City, California-based company said it had net income of $1.02 per share. Earnings, adjusted for one-time gains and costs, were 81 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The provider of software to the insurance industry posted revenue of $248.6 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $239.3 million.
For the year, the company reported a loss of $19.7 million, or 25 cents per share, swinging to a loss in the period. Revenue was reported as $661.1 million.
For the current quarter ending in November, Guidewire Software expects its per-share earnings to range from 18 cents to 22 cents.
The company said it expects revenue in the range of $159 million to $163 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $134.8 million.
Guidewire Software expects full-year earnings in the range of $1.15 to $1.26 per share, with revenue ranging from $740.5 million to $752.5 million.
Guidewire Software shares have risen 31 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $96.91, a climb of 29 percent in the last 12 months.