Veeva Systems (NYSE: VEEV) reported Q4 EPS of $0.23, $0.02 better than the analyst estimate of $0.21. Revenue for the quarter came in at $184.9 million versus the consensus estimate of $179.97 million.

Fiscal 2018 Fourth Quarter Results:

• Revenues: Total revenues for the fourth quarter were $184.9 million, up from $150.2 million one year ago, an increase of 23% year-over-year. Subscription services revenues for the fourth quarter were $150.9 million, up from $119.5 million one year ago, an increase of 26% year-over-year.
• Operating Income and Non-GAAP Operating Income(1): Fourth quarter operating income was $34.9 million, compared to $32.5 million one year ago, an increase of 7% year-over-year. Non-GAAP operating income for the fourth quarter was $51.6 million, compared to $46.2 million one year ago, an increase of 12% year-over-year.
• Net Income and Non-GAAP Net Income(1): Fourth quarter net income was $33.7 million, compared to $21.7 million one year ago, an increase of 55% year-over-year. Non-GAAP net income for the fourth quarter was $35.5 million, compared to $32.7 million one year ago, an increase of 8% year-over-year.
• Net Income per Share and Non-GAAP Net Income per Share(1): For the fourth quarter, fully diluted net income per share was $0.22, compared to $0.15 one year ago, while non-GAAP fully diluted net income per share was $0.23, compared to $0.22 one year ago.

Financial Outlook:

As of February 27, 2018, Veeva is providing guidance for the quarter ending April 30, 2018 and for the year ending January 31, 2019. Guidance is based on the new revenue recognition standard ASC 606.

Veeva is providing guidance for its fiscal first quarter ending April 30, 2018 as follows:

• Total revenues between $188 and $189 million.
• Non-GAAP operating income between $58 and $59 million(3).
• Non-GAAP fully diluted net income per share between $0.30 and $0.31(3).

Veeva is providing guidance for its fiscal year ending January 31, 2019 as follows:

• Total revenues between $815 and $820 million.
• Non-GAAP operating income between $250 and $255 million(3).
• Non-GAAP fully diluted net income per share between $1.30 and $1.33(3).

GUIDANCE:

Veeva Systems sees FY2019 EPS of $1.30-$1.33, versus the consensus of $1.02. Veeva Systems sees FY2019 revenue of $815-820 million, versus the consensus of $806.35 million.

For earnings history and earnings-related data on Veeva Systems (VEEV) click here.