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Performant Financial posts 4Q profit

LIVERMORE, Calif. (AP) _ Performant Financial Corp. (PFMT) on Tuesday reported fourth-quarter net income of $521,000, after reporting a loss in the same period a year earlier.

The Livermore, California-based company said it had net income of 1 cent per share. Earnings, adjusted for one-time gains and costs, came to 2 cents per share.

The provider of audit and recovery services posted revenue of $33.3 million in the period.

For the year, the company reported that its loss widened to $12.7 million, or 25 cents per share. Revenue was reported as $132 million.

Performant Financial expects full-year revenue in the range of $123 million to $150 million.

In the final minutes of trading on Tuesday, the company's shares hit $2.73. A year ago, they were trading at $1.65.


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