FireEye Inc (NASDAQ: FEYE) reported upbeat earnings for its fourth quarter, but issued weak first-quarter earnings guidance.
The intelligence-led security company, based in Malpitas, Calif., reported revenue of $218 million increased 6% from the fourth quarter of 2017 and was at the high end of the guidance range of $214 million to $218 million.
Its GAAP net loss per share was $0.25, compared to GAAP net loss per share of $0.39 in the fourth quarter of 2017. Cash flow generated by operations was $31 million, compared to cash flow generated by operations of $34 million in the fourth quarter of 2017, and was within the guidance range of $30 million to $35 million.
CEO Kevin Mandia declared, "The fourth quarter was a strong finish to a record year for FireEye. We posted double-digit billings growth for the quarter and the year, and achieved full-year non-GAAP profitability for the first time in our history."
FireEye provides guidance based on current market conditions and expectations.
For the first quarter of 2019, FireEye currently expects revenue in the range of $208 million to $212 million, billings in the range of $170 million to $180 million.
Non-GAAP net loss per share for the first quarter assumes interest income on cash and cash equivalents and short-term investments will offset cash interest expense associated with the company’s convertible senior notes, provision for income taxes of between $1.5 million and $2.0 million, and weighted average shares outstanding of approximately 198 million.
Shares in FEYE plummeted $2.28, or 12.4%, to $16.14 early Thursday
