Duck Creek Technologies Up 8% On Improved Results, Above Estimates

Shares of Duck Creek Technologies, Inc. (DCT), that provides software-as-a-service core systems to the property and casualty insurance industry, are climbing more than 8% Friday morning after reporting better-than-expected first-quarter results. The company’s full-year revenue outlook also came in above analysts’ estimates.

Duck Creek reported net income of $0.7 million or $0.01 per share in the first quarter compared with net loss of $4.7 million in the comparable period last year.

Excluding one-time items, earnings were $0.04 per share, that beat the average estimate of 11 analysts polled by Thomson Reuters at $0.01 per share.

Revenue for the quarter increased 25% year-over-year to $73.4 million, helped by growth in all segments. The consensus estimate was for $69.01 million.

For the full-year, the company sees revenue in the range of $298 million to $304 million. The consensus estimate stands at $297.8 million.

DCT is at $30.20 currently. It has traded in the range of $26.86- $59.40 in the last one year.

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