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ArcSight Up as Q4 Beats
ArcSight Inc. (ARST - Snapshot Report) posted a higher-than-expected fiscal fourth-quarter profit late Thursday. Shares are up more than 2% so far today.
Earnings came in at 13 cents per share, beating estimates by an average of 85.71%. Total revenue climbed 34% to $39.3 million, thanks to a significant increase in product revenue.
ArcSight expects adjusted earnings of 3 cents to 8 cents a share for fiscal first quarter. Revenue is expected to be in the range of $31 million to $34 million. Analysts see earnings of 4 cents per share.
The average forecast for the fiscal year ending April 2010 is 33 cents per share, which has been unchanged for several months now.
This Zacks #3 Rank ("Hold") company is trading on heavy volume of 2.4 million shares, against the daily average of 458,711.
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| Market Summary | Nov 07, 2009 23:50 pm ET |
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