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TYSONS, Va. (AP) _ Alarm.com Holdings Inc. (ALRM) on Thursday reported first-quarter net income of $8.8 million.
On a per-share basis, the Tysons, Virginia-based company said it had net income of 18 cents. Earnings, adjusted for one-time gains and costs, were 42 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The security service company posted revenue of $151.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $125.3 million.
Alarm.com expects full-year earnings in the range of $1.36 to $1.45 per share, with revenue in the range of $515 million to $535 million.
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Alarm.com shares have increased 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.63, a drop of 32% in the last 12 months.
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
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