Ellie Mae Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Ellie Mae (ELLI), a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, reported that its third-quarter net income increased to $4.1 million, or $0.14 per share, from $3.4 million, or $0.12 per share, in the third quarter of 2013. Adjusted net income for the third quarter of 2014 was $7.9 million, or $0.27 per share.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.24 for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA was $14.0 million, compared to $10.4 million in the third quarter of 2013.

Revenue was $42.8 million compared to $33.0 million, prior year. Analysts expected revenue of $40.11 million for the quarter. For the fourth quarter of 2014, the company expects revenue to be in the range of $41.0 million to $42.0 million. The company expects a net loss in the range of $0.5 million to breakeven, or a loss per share of $0.02 to breakeven per basic share. Adjusted net income per share is expected to be in the range $0.15 to $0.18. Adjusted EBITDA is expected to be in the range of $6.3 million to $7.3 million. Analysts expect the company to report fourth-quarter profit per share of $0.29 on revenue of $39.53 million.

For the full fiscal year 2014, the company expects revenue to be in the range of $156.0 million to $157.0 million, up from the previously provided range of $150.0 million to $153.5 million. Net income per share guidance is being adjusted downward to be in the range of $0.29 to $0.31, from the previously provided range of $0.30 to $0.32. Adjusted net income per share is expected to be in the range of $0.89 to $0.90, down from the previously provided range of $0.98 to $1.01. Adjusted EBITDA is expected to be in the range of $39.5 million to $40.5 million, down from the previously provided range of $40.5 million to $42.2 million. Analysts expect the company to report 2014 profit per share of $1.00 on revenue of $151.70 million.