Focus Equities

Asure Software Swings to Q1 Profit

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Asure Software rose in morning trading after the provider of human capital management swung to a Q1 profit on higher-than-expected revenue. Shares rose 10% to $14.24 at 9:44 a.m. in New York.

Non-GAAP EPS was $0.09 in the March quarter, compared to a net loss per share of $0.03. Analysts had predicted a gain of $0.08, according to Capital IQ data. Q1 revenue increased 60% to $10.7 million, topping the analyst consensus of $9.96 million. Looking ahead, the company anticipates non-GAAP EPS for FY17 in the range of $0.62 to $0.77, and revenue in the range of $45.5 million to $47.5 million. Analysts had predicted EPS of $0.66 and revenue of 45.8 million.

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