RealPage posts in-line 3Q profit; outlook weak

Associated Press

CARROLLTON, Texas (AP) — RealPage Inc., a provider of software services for the rental housing industry, said Wednesday that it posted $2.1 million in net profit in the third quarter, reversing a loss from a year earlier.

Net income in the three months to Sept. 30 amounted to 3 cents per share.

Excluding stock-based compensation expenses, amortization and other items, adjusted earnings came to 12 cents per share, in line with the forecast of analysts polled by FactSet.

Revenue rose 23 percent to $83.2 million, short of the $84 million analysts expected.

The company said it expects fourth-quarter adjusted earnings of 13 cents to 14 cents per share on revenue of $85.5 million to $87.5 million.

The forecast was slightly disappointing.

Analysts had been looking for fourth-quarter earnings of 14 cents per share on revenue of $89.6 million.

Shares fell $1.55, or 7.6 percent, to $18.74 in after-hours trading following the release of results. Earlier, shares closed down 49 cents, or 2.4 percent, to close at $20.29 in the regular session.