HealthEquity Posts Higher Q2 Profit

(RTTNews) - HealthEquity, Inc. (HQY) reported net income for the second quarter of $3.0 million, compared to $2.2 million for the year-ago quarter.

Earnings per share was $0.06 for the second quarter ended July 31, 2014, compared to $0.05 for the second quarter ended July 31, 2013.

Excluding items, adjusted earnings per share for the second quarter was $0.07, compared to $0.05 for the second quarter of last year.

Revenue for the second quarter rose 39% to $20.9 million from $15.0 million a year ago. Analysts polled by Thomson Reuters expected the company to earn $0.05 per share on revenue of $20.32 million for the second quarter. Analysts' estimates typically exclude special items.

For fiscal year 2015, the company forecast revenue of $83.0 million to $85.0 million and adjusted earnings of $0.16 to $0.18 per share. Analysts currently expect the company to earn $0.18 per share on revenue of $83.49 million for the fiscal year 2015.

HealthEquity shares began trading on the NASDAQ Global Select Market on July 31 following an initial public offering.