Why Tangoe Shareholders Are Dancing Today (TNGO)

Why Tangoe Shareholders Are Dancing Today

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shareholders of Tangoe (Nasdaq: TNGO ) are dancing today, because shares have gained as much as 19% after the company reported upbeat first-quarter earnings and predicted solid sales next quarter.

So what: Revenue in the first quarter rose 53% to $34.1 million, while non-GAAP net income doubled to $3.4 million, or $0.09 per share. Both of those results looked favorable compared to the $33 million in sales and $0.08 per share profit that the Street would have settled for. CEO Albert Subbloie said Tangoe exceeded the high end of its guidance on all key operating metrics.

Now what: The company expects second-quarter revenue to be between $35 million and $35.5 million, with adjusted earnings per share of $0.09. That sales forecast is a tad higher than the $34.9 million that analysts had modeled for. Tangoe also raised its full-year revenue outlook to between $142.3 million and $144.3 million, up from its prior range of $141.5 million-$143.5 million.

Interested in more info on Tangoe? Add it to your watchlist by clicking here.

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