Last $42.30 USD
Change Today -0.83 / -1.92%
Volume 67.0K
As of 11:53 AM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

wageworks inc (WAGE) Key Developments

WageWorks Provides Earnings Guidance for the Third Quarter of 2014 and Fiscal Year Ending December 31, 2014

WageWorks provided earnings guidance for the third quarter of 2014 and fiscal year ending December 31, 2014. For the quarter, the company given that it has only had CONEXIS onboard for two months, the company expects the acquisition to contribute $8 million to $9 million in revenue to have a marginally positive impact to adjusted EBITDA. On a GAAP net income per diluted share basis for the third quarter 2014, the company expects the acquisition to be neutral after transaction and acquisition amortization costs. Now let's turn its thoughts to the third quarter and full year 2014. Again, this is inclusive of CONEXIS. Starting with the third quarter, the company expects total revenue to be in the range of $66.5 million to $67.5 million, GAAP net income diluted share of $0.09 to $0.11, and non-GAAP net income per diluted share of $0.21 to $0.22. The company expectation of non-GAAP net income per diluted share for the third quarter excludes stock-based compensation expense, the amortization of acquired intangibles, contingent consideration expense and the related tax impact of these items. GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 40% and weighted average shares outstanding of 36.5 million. Non-GAAP adjusted EBITDA for the third quarter of 2014 is expected to be in the range of $16.4 million to $17 million. For the year ending December 31, 2014, the company continues to expect the annual organic revenue impact at the full run rate to be $9.5 million to $11.5 million. The company now expects total revenue to be in the range of $263 million to $265 million. GAAP net income per diluted share is expected to be in the range of $0.46 to $0.50. Non-GAAP net income per diluted share is now expected to be in a range of $0.90 $0.93. The company expectation of non-GAAP net income per diluted share for the full year excludes stock-based compensation expense, the amortization of acquired intangibles, contingent consideration expense and the related tax impact of these items. GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 40%. And weighted average shares outstanding are expected to be approximately 36.8 million. Non-GAAP adjusted EBITDA for the full year of 2014 is now expected to be in the range of $69 million to $70.2 million.

WageWorks, Inc. Announces Resignation of Richard T. Green as Chief Financial Officer

On August 4, 2014, Richard T. Green, Chief Financial Officer of WageWorks, Inc. notified the company of his intention to resign as an officer of the company in order to pursue other opportunities. Mr. Green plans to continue as Chief Financial Officer of the company during the next few months in order to facilitate an orderly transition of his responsibilities. The company has initiated a search to identify a replacement Chief Financial Officer and expects to conclude the search process expeditiously.

WageWorks, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

WageWorks, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues were $58.76 million against $54.56 million a year ago. Income from operations was $7.88 million against $6.74 million a year ago. Income before income taxes was $7.64 million against $6.39 million a year ago. Net income was $4.59 million or $0.13 diluted earnings per share against $3.99 million or $0.11 diluted per share for the same period last year. Non-GAAP income from operations was $14.5 against $11.9 a year ago. Non-GAAP net income was $8.6 against $7.1 a year ago. Non-GAAP diluted net income per share was $0.24 against $0.20 a year ago. Adjusted EBITDA was $17.5 against $14.9 a year ago. For the six months, the company reported total revenues were $121.38 million against $110.68 million a year ago. Income from operations was $18.79 million against $14.24 million a year ago. Income before income taxes was $18.3 million against $13.53 million a year ago. Net income was $11.03 million or $0.30 diluted earnings per share against $8.63 million or $0.25 diluted per share for the same period last year. Net cash provided by operating activities was $9.72 million against $29.66 million a year ago. Purchases of property and equipment were $7.07 million against $7.42 million a year ago. Non-GAAP income from operations was $29.7 against $23.2 a year ago. Non-GAAP net income was $17.5 against $14 a year ago. Non-GAAP diluted net income per share was $0.48 against $0.41 a year ago. Adjusted EBITDA was $35.7 against $28.8 a year ago.

WageWorks, Inc. to Report Q2, 2014 Results on Aug 04, 2014

WageWorks, Inc. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Aug 04, 2014

WageWorks, Inc., Q2 2014 Earnings Call, Aug 04, 2014

WageWorks, Inc., Q2 2014 Earnings Call, Aug 04, 2014

 

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