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Tangoe misses Street 3Q forecasts(Associated Press Via Acquire Media NewsEdge) ORANGE, Conn. (AP) _ Tangoe Inc. (TNGO) on Wednesday reported third-quarter net income of $935,000. The Orange, Connecticut-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 18 cents per share. The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share. The business software maker posted revenue of $54.5 million in the period, which also missed Street forecasts. Analysts expected $55.2 million, according to Zacks. For the current quarter ending in December, Tangoe expects its per-share earnings to range from 18 cents to 19 cents. The company said it expects revenue in the range of $55 million to $55.7 million for the fiscal fourth quarter. Tangoe expects full-year earnings in the range of 69 cents to 70 cents per share, with revenue ranging from $212.5 million to $213.2 million. Tangoe shares have fallen 19 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.64, a drop of 23 percent in the last 12 months. This story was generated by Automated Insights using data from Zacks Investment Research. TNGO stock research report from Zacks. Keywords:Tangoe,Earnings Report |