RTTNews | Jan 28, 2022 10:40AM EST

10:40 Friday, January 28, 2022 (RTTNews.com) - Shares of Mitek Systems, Inc. (MITK), mobile capture and identity verification software solutions provider, are up more than 6% Friday morning after reporting better-than-expected earnings in the first quarter.

Net income in the first quarter increased to $3.1 million, or $0.07 per diluted share. from $2.17 million or $0.05 per share in the same quarter a year ago.

Excluding one-time items, adjusted earnings were $0.22 per diluted share, that beat the average estimate of analysts polled by Thomson Reuters at $0.21 per share.

Total revenue increased 25% year over year to $32.5 million. The consensus estimate was for $33.69 million.

MITK, currently at $16.07, has been trading in the range of $13.52- $23.29 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3258403/mitek-systems-ascends-on-improved-earnings-better-than-consensus.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved