Tangoe (TNGO) Reports In-Line Q1 EPS

Tangoe (NASDAQ: TNGO) reported Q1 EPS of $0.17, in-line with the analyst estimate of $0.17. Revenue for the quarter came in at $53.5 million versus the consensus estimate of $55.5 million.

Tangoe sees Q2 2015 EPS of $0.18-$0.19, versus the consensus of $0.19. Tangoe sees Q2 2015 revenue of $56.5-57.5 million, versus the consensus of $58.44 million.

Tangoe sees FY2015 EPS of $0.73-$0.78, versus the consensus of $0.79. Tangoe sees FY2015 revenue of $245-250 million, versus the consensus of $239.62 million.

“We continued to enhance our market leadership position during the first quarter with the launch and rollout of new Matrix Connection Lifecycle Management software and services,” stated Al Subbloie, president and CEO of Tangoe. “During the quarter, our total revenues were below expectations primarily due to quarter-to-quarter variability of non-recurring revenue, which is the less strategic component of our business. We remain optimistic about the company’s future which is supported by continued expansion within our large and growing customer base, expanding relationships with key strategic alliance partners, and the strength of our new customer adds.”

Subbloie added, “We are very excited about our pending acquisition of IBM’s Rivermine TEM business, which we expect will improve the overall scale of our company, as well as increase our global customer base and spend under management. We also expect the acquisition will further accelerate the expansion of our global presence and bolster our relationship with IBM. We anticipate the acquisition to be accretive during 2016.”

For earnings history and earnings-related data on Tangoe (TNGO) click here.

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