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Qualys Inc. QLYS, -9.46% shares declined in the extended session Wednesday after the cloud-based cybersecurity company forecast an outlook that fell short of Wall Street expectations and announced its chairman and chief executive Philippe Courtot was taking a leave of absence due to health reasons.
Qualys shares fell 4.7% after hours, following a 9.5% drop in the regular session to close at $117.50.
The company said that Courtot’s health issues were unrelated to COVID-19, and that Chief Product Officer and President Sumedh Thakar will serve as interim CEO and serve on the board.
Qualys forecast earnings of 68 cents to 70 cents a share on revenue of $94.8 million to $95.4 million for the first quarter, and $2.60 to $2.65 a share on revenue of $399 million to $402 million for the year.
Analysts surveyed by FactSet had estimated 70 cents a share on revenue of $96.9 million for the first quarter, and $2.98 a share on revenue of $408.1 million for the year.
The company reported fourth-quarter net income of $23.8 million, or 59 cents a share, compared with $20.7 million, or 50 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 71 cents a share, compared with 62 cents a share in the year-ago period. Revenue rose to $94.8 million from $84.7 million in the year-ago quarter. Analysts had forecast 70 cents a share on revenue of $94.5 million.
