Evertec: 4Q Earnings Snapshot
SAN JUAN, Puerto Rico (AP) _ Evertec Inc. (EVTC) on Tuesday reported fourth-quarter earnings of $25 million.
On a per-share basis, the San Juan, Puerto Rico-based company said it had net income of 34 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 48 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The payment processing company posted revenue of $127.2 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $121.5 million.
For the year, the company reported profit of $103.5 million, or $1.41 per share. Revenue was reported as $487.4 million.
Evertec expects full-year earnings in the range of $2 to $2.06 per share, with revenue in the range of $501 million to $508 million.
Evertec shares have dropped almost 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.41, a rise of slightly more than 9% in the last 12 months.