Attunity (ATTU) Tops Q4 EPS by 6c, Revenues Beat; Offers FY19 Revenue Guidance Above Consensus

Attunity (NASDAQ: ATTU) reported Q4 EPS of $0.17, $0.06 better than the analyst estimate of $0.11. Revenue for the quarter came in at $26 million versus the consensus estimate of $23.86 million.

"The fourth quarter was a very strong end to a record year for Attunity. In the quarter, we achieved license revenue growth of 67% year-over-year and total revenue growth of 42% year-over-year," stated Shimon Alon, Chairman and CEO of Attunity. "We won a record number of strategic deals, demonstrating the value of our solution to companies building modern analytics and cloud solutions. In addition, we are seeing a higher attach rate of Attunity Compose, our solution for automating the delivery of analytics-ready data sets for data lakes and data warehouses, a trend we expect to see continue in 2019."

"We are excited about the market opportunity and the momentum that we are seeing in our business as we continue to focus on building the company to reach over $200 million in revenue over the next several years. We are increasing investments in sales, marketing and product innovation, which we believe will enable us to capture a growing share of the large market opportunity, continue to win large, strategic accounts, and strengthen our leading brand in the data integration market," concluded Mr. Alon.

• Total revenue for the fourth quarter of 2018 increased 42% to $26.0 million, compared with $18.3 million for the same period in 2017. This includes license revenue of $17.1 million, which grew 67% compared with $10.3 million for the same period in 2017, and maintenance and service revenue, which grew 10% to $8.8 million, compared with $8.0 million for the same period in 2017.
• Operating expenses for the fourth quarter of 2018 increased 30% to $23.6 million, compared with $18.1 million for the same period in 2017.*
• Non-GAAP operating expenses for the fourth quarter of 2018 increased 31% to $22.0 million, compared with $16.7 million for the same period in 2017. Non-GAAP operating expenses exclude approximately $1.6 million in equity-based compensation expenses and amortization associated with acquisitions, compared with $1.4 million of similar expenses for the same period in 2017.**
• Operating profit for the fourth quarter of 2018 was $2.4 million, compared with $0.2 million for the same period in 2017.*
• Non-GAAP operating profit was $4.0 million for the fourth quarter of 2018, compared with $1.6 million for the same period in 2017. Non-GAAP operating profit excludes approximately $1.6 million in equity-based compensation expenses and amortization associated with acquisitions, compared with $1.4 million of similar expenses for the same period in 2017.**
• Net income for the fourth quarter of 2018 was $2.5 million, or $0.11 per diluted share, compared with a net loss of $1.6 million, or ($0.09) per diluted share, in the same period in 2017.*
• Non-GAAP net income for the fourth quarter of 2018 was $4.0 million, or $0.17 per diluted share, compared with a non-GAAP net loss of $0.04 million, or ($0.00) per diluted share, for the same period in 2017. Non-GAAP net income excludes approximately $1.5 million in equity-based compensation expenses, amortization associated with acquisitions and tax expense related to Non- GAAP adjustments, compared with approximately $1.6 million of the similar expenses for the same period in 2017.**
• Cash flow from operations in the fourth quarter of 2018 was $3.1 million, compared with cash from operations of $0.7 million in the same period in 2017.

GUIDANCE:

Attunity sees FY2019 revenue of $104-108 million, versus the consensus of $101.6 million.

For earnings history and earnings-related data on Attunity (ATTU) click here.

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