Guidance Software Gains 3% On Strong Preliminary Q1 Results

Shares of Guidance Software, Inc. (NASDAQ: GUID) gained nearly 3 percent Wednesday morning after the company reported preliminary first quarter results.

Guidance Software said it expects its first quarter revenue to be in the range of $25.6 million to $25.8 million, exceeding Wall Street's expectations of $25.55 million.

Guidance Software noted its first quarter revenue expectation represents growth on a year-over-year basis. The company highlighted its expectations for cybersecurity related revenue to grow 15 percent on a year-over-year basis.

Guidance Software also expects to report a non-GAAP loss of approximately $0.08 per share.

Based on the company's preliminary results, management will be making an announcement regarding its 2016 guidance when it reports its first quarter results on May 5.

"We are very pleased to pre-announce a strong Q1 on the heels of a strong Q4. There is no better demonstration of progress than results. We delivered strong top line revenue for Q1, strong product revenue, and strong cybersecurity revenue growth. This is the first time in three years where the company has grown in Q1," said Patrick Dennis, Guidance Software's Chief Executive Officer. "Our shareholders should be encouraged to know that the product strategy and new sales leadership team are already having a meaningful impact on the Company's performance. We look forward to delivering great results to our shareholders for the foreseeable future."