U.S. Markets closed

Inovalon Holdings: 4Q Earnings Snapshot

BOWIE, Md. (AP) _ Inovalon Holdings Inc. (INOV) on Wednesday reported a fourth-quarter loss of $11 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Bowie, Maryland-based company said it had a loss of 7 cents. Earnings, adjusted for one-time gains and costs, were 5 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The health technology company posted revenue of $136.3 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $146.7 million.

For the year, the company reported a loss of $39.2 million, or 27 cents per share, swinging to a loss in the period. Revenue was reported as $527.7 million.

For the current quarter ending in April, Inovalon Holdings expects its per-share earnings to be 7 cents.

The company said it expects revenue in the range of $143 million to $146 million for the fiscal first quarter.

Inovalon Holdings expects full-year earnings in the range of 41 cents to 47 cents per share, with revenue ranging from $637 million to $657 million.

Inovalon Holdings shares have risen almost 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.42, an increase of 21 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 INOV at https://www.zacks.com/ap/INOV