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What: Shareholders of Tangoe (NAS: TNGO) are dancing today, because shares have gained as much as 19% after the company reported upbeat first-quarter earnings and predicted solid sales next quarter.
So what: Revenue in the first quarter rose 53% to $34.1 million, while non-GAAP net income doubled to $3.4 million, or $0.09 per share. Both of those results looked favorable compared to the $33 million in sales and $0.08 per share profit that the Street would have settled for. CEO Albert Subbloie said Tangoe exceeded the high end of its guidance on all key operating metrics.
Now what: The company expects second-quarter revenue to be between $35 million and $35.5 million, with adjusted earnings per share of $0.09. That sales forecast is a tad higher than the $34.9 million that analysts had modeled for. Tangoe also raised its full-year revenue outlook to between $142.3 million and $144.3 million, up from its prior range of $141.5 million-$143.5 million.
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At the time thisarticle was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
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