SolarWinds Earnings: Blows Past Estimates
SolarWinds, Inc. (NYSE:SWI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.70%.
SolarWinds, Inc. Earnings Cheat Sheet
Results: Net income increased 141.87% to $39.4 million (36 cents per diluted share) in the quarter versus a net gain of $16.29 million in the year-earlier quarter.
Revenue: Rose 32.17% to $73.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SolarWinds, Inc. reported adjusted net income of 36 cents per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $70.72 million.
Quoting Management: “Once again, the SolarWinds team delivered an impressive performance in 2012, resulting in full year revenue growth of 36% and a solid acceleration over our strong revenue growth last year. We believe that the team’s hard work and focus the past year to extend our product portfolio in meaningful ways, engage the IT community through compelling content and targeted marketing efforts, and establish ourselves as a significant player in the broader IT management market are reflected in this quarter’s and full year 2012 results,” said Kevin Thompson, SolarWinds’ President and Chief Executive Officer…