Guidewire Software Posts Q3 Loss
Guidewire Software results for the company's fiscal Q3 have been released. For the quarter, revenue was $68 million, an improvement over the $57 million it posted in the same period the previous year. The bottom line turned red, however, swinging to a loss of $2.7 million ($0.05 per diluted share) from Q3 2012's profit of $3.1 million ($0.05).
In spite of the shortfall, Guidewire Software managed to top its existing guidance for top line. This past February, it estimated it would take in $62.5 million-$64.5 million. The company did, however, anticipate a net profit. Its projection was for EPS of $0.01-$0.03.
The firm's management sounded an optimistic note about its future prospects. In the press release announcing the results, it quoted CEO Marcus Ryu as saying that "we believe that we are in the early stage of our market opportunity, and we continue to invest in expanding our product capabilities and global reach to advance our leadership position."
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