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 fourth-quarter net income of $20.8 million.
On a per-share basis, the Bowie, Maryland-based company said it had profit of 14 cents. Earnings, adjusted for one-time gains and costs, were 21 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The health technology company posted revenue of $189.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $187.8 million.
Insight by Kodak Alaris: Practitioners provide insight into how states and the IT industry are dealing with Real ID in this exclusive executive briefing.
For the year, the company reported profit of $21.9 million, or 15 cents per share. Revenue was reported as $667.5 million.
For the current quarter ending in April, Inovalon Holdings expects its per-share earnings to range from 14 cents to 17 cents.
The company said it expects revenue in the range of $170 million to $176 million for the fiscal first quarter.
Inovalon Holdings expects full-year earnings in the range of 73 cents to 75 cents per share, with revenue ranging from $741 million to $768 million.
Inovalon Holdings shares have increased 42% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.76, a climb of 27% 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
Read more Business News news.
Copyright © 2021 . All rights reserved. This website is not intended for users located within the European Economic Area.