RTTNews | Nov 11, 2020 10:56AM EST

10:56 Wednesday, November 11, 2020 (RTTNews.com) - Shares of revenue management cloud solutions provider Model N, Inc. (MODN) are down more than 11% despite better-than-expected earnings in the fourth quarter.

The company reported adjusted earnings of $0.14 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.09 per share.

Revenues were $41.5 million, an increase of 13% from last year.

The company sees first quarter revenue to be in the range of $40.2 million- $40.6 million and adjusted EPS to be in the range of 0.05 - 0.08. The consensus estimate for EPS is at $0.10 and for revenue at $41.37 million.

For the full-year, the company sees revenue of $170 million - $172 million adjusted earnings to be in the range of $0.27 - $0.35. Analysts polled by Thomson Reuters expect the company to report earnings of $0.43 per share on revenue of $174.55 million.

MODN stock is currently at $31.28 and has been trading in the range of $15-$44.56 in the past 52 weeks.

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