AVG Technologies (AVG) Tops Q1 EPS by 9c

AVG Technologies (NYSE: AVG) reported Q1 EPS of $0.46, $0.09 better than the analyst estimate of $0.37. Revenue for the quarter came in at $102.8 million versus the consensus estimate of $100.24 million.

AVG Technologies sees FY2015 EPS of $1.80-$1.90, versus the consensus of $1.87. AVG Technologies sees FY2015 revenue of $410-430 million, versus the consensus of $421.24 million.

"Our results of the quarter reflect the continued execution against the initiatives we laid out for you during the repositioning of the company last year," said Gary Kovacs, CEO of AVG. "Subscription based revenue growth accelerated and now represents approximately 80 percent of the total revenues, providing an increasingly predictable, sustainable and recurring revenue base. Our total active user count has surpassed 200 million, validating our view that the online security industry is undergoing a fundamental shift, with consumers driving much of the change. As we approach the second half of 2015, we believe we will capitalize on this emerging opportunity with our strong user base and realigned focus, and continue to deliver on our objectives."

For earnings history and earnings-related data on AVG Technologies (AVG) click here.

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