Benefitfocus: Q2 Earnings Snapshot
CHARLESTON, S.C. (AP) _ Benefitfocus Inc. (BNFT) on Wednesday reported a loss of $12.2 million in its second quarter.
On a per-share basis, the Charleston, South Carolina-based company said it had a loss of 40 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The human resources software provider posted revenue of $56.6 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $56.4 million.
For the current quarter ending in October, Benefitfocus expects its results to range from a loss of 18 cents per share to a loss of 12 cents per share.
The company said it expects revenue in the range of $55 million to $57 million for the fiscal third quarter.
Benefitfocus expects full-year revenue in the range of $252 million to $258 million.
Benefitfocus shares have decreased 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8, a decrease of 38% in the last 12 months.