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WageWorks beats 4Q profit forecasts

SAN MATEO, Calif. (AP) _ WageWorks Inc. (WAGE) on Thursday reported fourth-quarter earnings of $5.7 million.

On a per-share basis, the San Mateo, California-based company said it had profit of 15 cents. Earnings, adjusted for one-time gains and costs, came to 36 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The provider of health, commuter and other employee benefits posted revenue of $101.1 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $103.8 million.

For the year, the company reported profit of $20.2 million, or 54 cents per share. Revenue was reported as $364.7 million.

WageWorks shares have increased nearly 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $72.90, an increase of 66 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 WAGE at https://www.zacks.com/ap/WAGE

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Keywords: WageWorks, Earnings Report