Copyright 2019 Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area.
BOWIE, Md. (AP) _ Inovalon Holdings Inc. (INOV) on Wednesday reported a loss of $1.7 million in its first quarter.
The Bowie, Maryland-based company said it had a loss of 1 cent per share. Earnings, adjusted for one-time gains and costs, were 11 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 11 cents per share.
The health technology company posted revenue of $154.2 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $158.5 million.
For the current quarter ending in July, Inovalon Holdings said it expects revenue in the range of $157 million to $163 million.
Insight by Kodak Alaris: Learn the importance of electronic records in all mission and administrative efforts across government in this free webinar.
The company expects full-year earnings in the range of 11 cents to 15 cents per share, with revenue ranging from $672 million to $698 million.
Inovalon Holdings shares have dropped 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.63, a climb of 36% 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
Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.