Zix Corporation reports beat 3Q EPS and revenue, raises guidance for full year

Cybersecurity company Zix Corporation (NASDAQ:ZIXI) reported beats on third quarter earnings per share and revenue on Tuesday, predicting it would post strong revenue in the fourth quarter of 2018 while raising its guidance. 

The company said earnings per share came in at $0.09, beating the consensus of $0.08 and the year-ago level of $0.07. Revenue reached $17.9 million, against the consensus of $17.73 million and last year’s $16.59 million.

For the fourth quarter of 2018, the company forecasts revenue to range between $18 million and $18.2 million. The company forecasts fully diluted GAAP earnings per share to be in a range of $0.04 and $0.05 and fully diluted non-GAAP adjusted earnings per share to be $0.09 for the fourth quarter of 2018.

For fiscal year 2018, the company is increasing the midpoint of its revenue guidance range to between $70 million to $70.2 million, representing an increase of 7% compared to fiscal year 2017. The company forecasts fully diluted GAAP earnings per share to be between $0.16 and $0.17 and increases its fully diluted non-GAAP adjusted earnings per share guidance to $0.33 for fiscal year 2018.

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“Year-to-date New First Year Orders are up by more than 20% and year-to-date total orders are up more than 25%, driven by the continued strong performance of both our direct and channel sales teams across all customer sizes,” said CEO David Wagner. New First Year Orders (NFYO) increased 24% to $2.6 million.

The company ended the quarter with $24 million in cash and no debt.

Shares of the company were up 0.795 in afterhours trade to $5.10, having settled on Tuesday up 3.27% to $5.06.

Zix Corporation is a leader in email security. Zix delivers easy-to-use solutions for email encryption and data loss prevention, advanced threat protection, unified information archiving and bring your own device (BYOD) mobile security.

The company is based in Dallas, Texas.

Story by ProactiveInvestors