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Benefitfocus reports 1Q loss

CHARLESTON, S.C. (AP) _ Benefitfocus Inc. (BNFT) on Thursday reported a loss of $7.7 million in its first quarter.

On a per-share basis, the Charleston, South Carolina-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense and amortization costs, came to 11 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The human resources software provider posted revenue of $64.2 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $63 million.

For the current quarter ending in July, Benefitfocus expects its results to range from a loss of 16 cents per share to a loss of 13 cents per share.

The company said it expects revenue in the range of $61.5 million to $62.5 million for the fiscal second quarter.

Benefitfocus expects full-year results to range from a loss of 37 cents per share to a loss of 24 cents per share, with revenue ranging from $263.5 million to $268.5 million.

Benefitfocus shares have risen roughly 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.85, a drop of 18 percent 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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Keywords: Benefitfocus, Earnings Report