HOUSTON (AP) — Business software company BMC Software Inc. said its first-quarter net income inched higher while revenue grew as it said it capitalized on customer demand for agile, flexible information technology infrastructures. But revenue fell short of expectations and shares fell.
Net income in the three months through June 30 rose 3 percent to $95.7 million, or 53 cents per share, from $92.8 million, or 50 cents per share, a year earlier.
Adjusted to exclude share-based compensation expenses, amortization of intangibles and other items, adjusted earnings per share came to 72 cents, beating the 68 cents expected by analysts polled by FactSet.
Revenue grew 9 percent to $502.4 million from $460.9 million a year earlier, slightly below the $507.1 million expected by analysts.
The company lifted its annual adjusted earnings guidance by 4 cents to $3.25 to $3.35 per share. The midpoint was slightly better than the $3.27 expected by analysts. It said revenue would grow for the full year “in the high single to low double digits.” Analysts are expecting revenue growth of 9 percent this year.
Shares fell $2.39, or 5 percent, to $46.50 in after-hours trading, after already dropping $2.13, or 4.2 percent in the regular session Wednesday.