Cognyte Software Sinks 23% As Quarterly Results Fall Shy Of Estimates

(RTTNews) - Shares of Cognyte Software Ltd. (CGNT) are down more than 23% in the morning trade on Tuesday after the security analytics software provider's fourth-quarter results missed analysts' view.

Cognyte reported net loss of $12.43 million or $0.19 per share in the fourth quarter compared with net income of $4.34 million or $0.07 per share in the same quarter a year ago, impacted by continued supply chain issues.

Excluding one-time items, the company posted earnings of $0.16 per share, that missed the average estimate of analysts polled by Thomson Reuters at $0.22 per share.

Revenue for the quarter was $124.96 million compared with $124.02 million a year ago.

Adjusted revenue was $125.31 million. The consensus estimate stood at $129.55 million.

CGNT, currently at $8.93, touched a new low of $8.80 this morning.