http://finance.yahoo.com/news/ellie-mae-tops-street-4q-23174…
Auto generated report…
had net income of 16 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 44 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share…
posted revenue of $64.9 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $61.4 million…
expects full-year earnings in the range of 71 cents to 76 cents per share, with revenue ranging from $317 million to $321 million.
Fool related article
http://www.fool.com/investing/general/2016/02/11/ellie-mae-e…
The mortgage-processing software company hasn’t seen any sluggishness among its loan-provider clients
shareholders had some concerns about whether the company would be able to keep its earnings growing, especially as lending giant Wells Fargo (NYSE:WFC) reported double-digit percentage drops in applications, originations, and pipeline figures for home loans. Yet Ellie Mae put all those concerns to rest, producing not only better revenue growth than expected but also boosting its bottom line as well…
the company continues to grow its user base. For the fourth quarter, the company booked a record 16,200 seats for its software-as-a-service Encompass platform, bringing the total number of users on the cloud version of the program to more than 121,400, up 43% from a year ago. In total, Encompass users rose 25% to almost 136,200, and revenue per user hit an average of $475, or 10% higher than last year’s fourth quarter…
Corr doesn’t see any pause in Ellie Mae’s upward momentum. “Even with the record number of seats we booked in 2015,” the CEO said, “our new business pipeline remains very robust.” Corr expects to add new users, introduce new services, and get existing clients to adopt more of its existing services in an effort to grow the business in every possible way…
What could drive even better results is a continued drop in mortgage rates. Wells Fargo and other lenders were prepared to see higher rates in 2016, especially as the Fed started lifting its Fed Funds rate up from the 0% mark. Yet now, with economic turmoil starting to swirl, many expect a much slower pace of increases, and that could lead to another round of refinancing from which Wells Fargo and other banks could benefi
Stock up 8% at this time.
Transcript
http://finance.yahoo.com/news/edited-transcript-elli-earning…
which I hope to read later tonight.