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Envestnet reports 4Q loss

CHICAGO (AP) _ Envestnet Inc. (ENV) on Thursday reported a loss of $32.6 million in its fourth quarter.

The Chicago-based company said it had a loss of 75 cents per share. Earnings, adjusted for pretax expenses and non-recurring costs, were 32 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The financial services firm posted revenue of $155.5 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $154.6 million.

For the year, the company reported a loss of $55.6 million, or $1.30 per share, swinging to a loss in the period. Revenue was reported as $578.2 million.

For the current quarter ending in April, Envestnet expects its per-share earnings to be 24 cents.

The company said it expects revenue in the range of $153.8 million to $156.3 million for the fiscal first quarter.

Envestnet expects full-year revenue in the range of $649 million to $659 million.

Envestnet shares have declined slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.65, an increase of 34 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ENV at https://www.zacks.com/ap/ENV


Keywords: Envestnet, Earnings Report