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Benefitfocus: 2Q Earnings Snapshot

August 6, 2019

CHARLESTON, S.C. (AP) _ Benefitfocus Inc. (BNFT) on Tuesday reported a loss of $14.9 million in its second quarter.

On a per-share basis, the Charleston, South Carolina-based company said it had a loss of 46 cents. Losses, adjusted for stock option expense and amortization costs, came to 31 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.

The human resources software provider posted revenue of $68.6 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $67.5 million.

For the current quarter ending in October, Benefitfocus expects its results to range from a loss of 43 cents per share to a loss of 37 cents per share.

The company said it expects revenue in the range of $70 million to $72 million for the fiscal third quarter.

Benefitfocus expects full-year results to range from a loss of 95 cents per share to a loss of 80 cents per share, with revenue ranging from $292 million to $300 million.

Benefitfocus shares have declined 49% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.49, a decline of 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BNFT at https://www.zacks.com/ap/BNFT

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