Tyler Technologies (TYL) Tops Q3 EPS by 4c
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Tyler Technologies (NYSE: TYL) reported Q3 EPS of $0.94, $0.04 better than the analyst estimate of $0.90. Revenue for the quarter came in at $194.5 million versus the consensus estimate of $197.59 million.
“Tyler achieved very solid revenue and earnings growth for the third quarter, with greater than 20 percent growth in all of our software revenue lines,” said John S. Marr Jr., Tyler’s president and chief executive officer. “Total revenues grew 29 percent, with nearly 11 percent organic growth. Our cloud business continued to exhibit strength, increasing 27 percent over the prior year, of which 23 percent was organic. Third quarter cash provided by operations was $67 million, a new quarterly high. Year-to-date, we have generated over $121 million in cash from operations, exceeding the total for all of 2015.
“Bookings in the third quarter were the highest in company history at $266 million, up 43 percent over the prior year. Bookings include a four-year extension of our eFileTexas agreement with the Texas Office of Court Administration valued at approximately $72 million. Backlog also reached a new high of $936 million. In addition, we are pleased with our progress on the integration of New World Systems, as well as New World’s revenue and earnings contributions that continue to meet or exceed our expectations set at the beginning of the year,” said Marr.
For earnings history and earnings-related data on Tyler Technologies (TYL) click here.
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