Veeva: Fiscal Q4 Earnings Snapshot

·1 min read

PLEASANTON, Calif. (AP) _ Veeva Systems Inc. (VEEV) on Tuesday reported fiscal fourth-quarter profit of $102.9 million.

The Pleasanton, California-based company said it had net income of 64 cents per share. Earnings, adjusted for one-time gains and costs, were 78 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The provider of cloud-based software services for the life sciences industry posted revenue of $396.8 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $379.9 million.

For the year, the company reported profit of $380 million, or $2.36 per share. Revenue was reported as $1.47 billion.

For the current quarter ending in May, Veeva expects its per-share earnings to range from 77 cents to 78 cents.

The company said it expects revenue in the range of $408 million to $410 million for the fiscal first quarter.

Veeva expects full-year earnings to be $3.20 per share, with revenue ranging from $1.76 billion to $1.77 billion.

Veeva shares have increased 5.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $287.30, an increase of 99% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VEEV at https://www.zacks.com/ap/VEEV