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Evertec beats Street 4Q forecasts

SAN JUAN, Puerto Rico (AP) _ Evertec Inc. (EVTC) on Wednesday reported fourth-quarter net income of $16 million.

On a per-share basis, the San Juan, Puerto Rico-based company said it had net income of 22 cents. Earnings, adjusted for non-recurring costs, were 43 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The payment processing company posted revenue of $101.9 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $97.3 million.

For the year, the company reported profit of $75 million, or $1.01 per share. Revenue was reported as $389.5 million.

Evertec expects full-year earnings in the range of $1.50 to $1.63 per share, with revenue in the range of $390 million to $400 million.

Evertec shares have declined slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.15, a rise of 48 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 EVTC at https://www.zacks.com/ap/EVTC

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Keywords: Evertec, Earnings Report