Qualys Q3 Profit Up, Cuts Outlook; Shares Down

(RTTNews) - Shares of Qualys Inc. (QLYS) tanked 12% on extended trading session on Monday after it lowered its full year revenue outlook.

Net income for the third quarter rose to $4.1 million or $0.11 per share from $3.1 million or $0.08 per share last year. Adjusted earnings rose to $7.1 million or $0.19 per share from $5.6 million or $0.15 per share last year.

Revenues for the third quarter increased by 24% to $42.5 million from $34.3 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.13 per share on revenues of $42.33 million for the quarter.

Looking forward to the fourth quarter, the company expects adjusted earnings of $0.16 to $0.18 per share on revenues of $44.3 million to $44.8 million.

Analysts currently estimate earnings of $0.12 per share on revenues of $45.77 million for the quarter.

For the full year 2015, the company now expects revenues of $164.1 million to $164.6 million, down from prior outlook of $165.0 million to $166.5 million.

For the full year 2015, the company expects adjusted earnings of $0.65 to $0.67 per share, up from prior adjusted earnings of $0.50 to $0.55 per share.

Analysts currently estimate earnings of $0.56 per share on revenues of $165.55 million for the year.