AUSTIN, Texas (AP) _ Resideo Technologies Inc. (REZI) on Thursday reported first-quarter net income of $49 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Austin, Texas-based company said it had net income of 33 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The residential comfort and security systems maker posted revenue of $1.42 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $1.33 billion.
For the current quarter ending in July, Resideo Technologies said it expects revenue in the range of $1.4 billion to $1.45 billion.
The company expects full-year revenue in the range of $5.5 billion to $5.7 billion.
Resideo Technologies shares have climbed 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.97, rising sixfold in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on REZI at https://www.zacks.com/ap/REZI
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