AP NEWS

Benefitfocus: 3Q Earnings Snapshot

November 7, 2019 GMT

CHARLESTON, S.C. (AP) _ Benefitfocus Inc. (BNFT) on Wednesday reported a loss of $12.6 million in its third quarter.

The Charleston, South Carolina-based company said it had a loss of 38 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 23 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 38 cents per share.

The human resources software provider posted revenue of $71.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $70.9 million.

For the current quarter ending in December, Benefitfocus expects its results to range from a loss of 15 cents per share to earnings of 1 cent per share.

The company said it expects revenue in the range of $83.5 million to $91.5 million for the fiscal fourth quarter.

Benefitfocus expects full-year results to range from a loss of 89 cents per share to a loss of 74 cents per share, with revenue ranging from $292 million to $300 million.

Benefitfocus shares have fallen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.12, a fall of 42% 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