Benefitfocus Q1 Loss Widens; Issues Q2 Outlook - Quick Facts

(RTTNews) - Benefitfocus, Inc. (BNFT) Monday reported first-quarter net loss of $12.4 million, wider than $5.6 million last year. Loss per share for the latest first quarter narrowed to $0.51 from $1.17 in the comparable quarter last year.

Non-GAAP net loss for the latest first quarter widened to $11.3 million, or $0.46 per share from $4.8 million, or $0.23 per share in the prior year quarter.

Revenue increased 29% to $30.70 million from $23.85 million a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report a loss of $0.55 per share on revenues of $30.02 million.

Looking ahead to the second quarter, the company expects non-GAAP net loss to be in the range of $17.5 million to $18.0 million, or $0.70 to $0.72 per share and revenue in the range of $31.0 million to $31.5 million. Analysts currently expect second quarter loss of $0.64 per share on revenues of $31.78 million.

For full year 2014, the company updated its outlook and expects non-GAAP net loss to be in the range of $59.0 million to $63.0 million, or $2.37 to $2.53 per share and revenue in the range of $130.6 million to $134.6 million. Analysts now expect loss of $2.48 per share on revenues of $133.30 million.