Benefitfocus Q2 Loss Widens

(RTTNews) - Benefitfocus, Inc. (BNFT) Thursday reported second-quarter net loss of $18.2 million, wider than $9.6 million last year. Loss per share for the latest second quarter narrowed to $0.72 from $2.00 in the comparable quarter last year.

Non-GAAP net loss for the latest second quarter widened to $15.7 million, or $0.62 per share from $8.8 million, or $0.41 per share in the prior year quarter. On average, six analysts polled by Thomson Reuters expected the company to report a loss of $0.70 per share. Analysts' estimates typically exclude special items.

Revenue increased 33% to $32.34 million from $24.33 million a year ago, while six analysts expected revenues of $31.31 million.

Looking ahead to the third quarter, the company expects non-GAAP net loss to be in the range of $17.8 million to $18.3 million, or $0.70 to $0.72 per share and revenue in the range of $33.5 million to $34.0 million. Analysts currently expect second quarter loss of $0.67 per share on revenues of $33.54 million.

For full year 2014, the company now expects non-GAAP net loss to be in the range of $59.0 million to $61.0 million, or $2.35 to $2.42 per share and revenue in the range of $133.6 million to $135.6 million. Analysts now expect loss of $2.47 per share on revenues of $133.53 million.

Earlier, the company expected 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.