InnerWorkings: 3Q Earnings Snapshot
CHICAGO (AP) _ InnerWorkings Inc. (INWK) on Thursday reported a third-quarter loss of $44.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had a loss of 87 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The company that provides and manages marketing supplies for businesses posted revenue of $270.9 million in the period.
InnerWorkings expects full-year earnings in the range of 17 cents to 20 cents per share, with revenue in the range of $1.12 billion to $1.14 billion.
InnerWorkings shares have decreased 30 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.04, a fall of 35 percent in the last 12 months.