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Planet Payment misses 4Q revenue forecasts

LONG BEACH, N.Y. (AP) _ Planet Payment Inc. (PLPM) on Wednesday reported fourth-quarter net income of $19.8 million.

On a per-share basis, the Long Beach, New York-based company said it had profit of 36 cents. Earnings, adjusted for pretax gains, were 6 cents per share.

The payment processing company posted revenue of $13.9 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $16 million.

For the year, the company reported profit of $25.1 million, or 44 cents per share. Revenue was reported as $54.3 million.

Planet Payment expects full-year earnings to be 21 cents to 22 cents per share, with revenue in the range of $60.1 million to $61.5 million.

In the final minutes of trading on Wednesday, the company's shares hit $4.22. A year ago, they were trading at $3.20.

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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 PLPM at https://www.zacks.com/ap/PLPM

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Keywords: Planet Payment, Earnings Report