Benefitfocus: 2Q Earnings Snapshot
Aug. 02, 2018
CHARLESTON, S.C. (AP) _ Benefitfocus Inc. (BNFT) on Thursday reported a loss of $14.3 million in its second quarter.
The Charleston, South Carolina-based company said it had a loss of 45 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.
The human resources software provider posted revenue of $60.6 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $56.9 million.
For the current quarter ending in October, Benefitfocus expects its results to range from a loss of 35 cents per share to a loss of 28 cents per share.
The company said it expects revenue in the range of $58 million to $60 million for the fiscal third quarter.
Benefitfocus expects full-year results to range from a loss of 72 cents per share to a loss of 54 cents per share, with revenue ranging from $253 million to $258 million.
Benefitfocus shares have increased 16 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.40, a fall of almost 8 percent in the last 12 months.