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Friday, 04/29/2016 9:56:18 AM

Friday, April 29, 2016 9:56:18 AM

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Mitek Systems beats Street 2Q forecasts
Mitek Systems posts 2Q profit, results top Wall Street estimates

SAN DIEGO (AP) _ Mitek Systems Inc. (MITK) on Thursday reported fiscal second-quarter profit of $582,000.

On a per-share basis, the San Diego-based company said it had profit of 2 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The mobile imaging software company posted revenue of $8.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $7.3 million.

Mitek Systems shares have climbed 68 percent since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MITK at http://www.zacks.com/ap/MITK

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Source: http://finance.yahoo.com/news/mitek-systems-beats-street-2q-140649721.html


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