Smartsheet: Fiscal Q1 Earnings Snapshot

BELLEVUE (AP) - BELLEVUE (AP) - Smartsheet Inc. reported a loss in the first quarter of its fiscal year of $29.9 millions on Wednesday.

The Bellevue-based company reported a loss per share of 23 cents. The earnings per share, after adjusting for amortization and stock option costs, were 18 cents.

The results exceeded Wall Street's expectations. Zacks Investment Research surveyed six analysts and found that the average estimate was 8 cents per share.

The creator of a cloud work-management system posted revenues of $219.9 millions in the period. This was also higher than Street expectations. Seven of the Zacks analysts interviewed expected $214.1 millions.

Smartsheet's per-share earnings are expected to range between 7 and 8 cents for the current quarter, which ends in July.

The company expects revenues in the range $228 to $231 millions for the second fiscal quarter.

Smartsheet's earnings for the full year are expected to range from 37 cents up to 44 cents a share. Revenues will range between $943 million and $948 million.

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