TYSONS, Va. (AP) — TYSONS, Va. (AP) — Alarm.com Holdings Inc. (ALRM) on Thursday reported first-quarter earnings of $23.6 million.

The Tysons, Virginia-based company said it had profit of 44 cents per share. Earnings, adjusted for one-time gains and costs, were 50 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The security service company posted revenue of $223.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $218.3 million.

Alarm.com expects full-year earnings in the range of $2.14 to $2.16 per share, with revenue in the range of $914.5 million to $931 million.

Alarm.com shares have risen 6.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $68.79, an increase of 45% in the last 12 months.

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