Mitek Systems reports 1Q loss
Mitek Systems reports first-quarter loss of $607,000
SAN DIEGO (AP) _ Mitek Systems Inc. (MITK) on Thursday reported a loss of $607,000 in its fiscal first quarter.
The San Diego-based company said it had a loss of 2 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 3 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The mobile imaging software company posted revenue of $9.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $8.7 million.
Mitek Systems shares have risen roughly 5 percent since the beginning of the year. The stock has increased 47 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MITK at https://www.zacks.com/ap/MITK
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Keywords: Mitek Systems, Earnings Report
