Performant Financial (PFMT) Reports Q4 Loss of $0.01, Offers Outlook

Performant Financial (NASDAQ: PFMT) reported Q4 EPS of ($0.01), versus $0.15 reported last year. Revenue for the quarter came in at $38.6 million, versus $58.6 million reported last year.

Business Outlook

"We continue to wait for clarity on the timing of two key contract re-compete awards in our healthcare and student loan markets and we continue to have a very favorable view of the growth potential in both markets. Our Student Lending business had a very strong first quarter, and with total loan placements exceeding $2.2 billion in the first quarter, we anticipate having a strong second half of this year and great momentum heading into 2016. With above-plan productivity in the first quarter, and meaningful expense restructuring, we believe we are well positioned to meet or even exceed our expectations for the year. In addition, we are even more comfortable that our results will remain in compliance with bank covenants during this transitional year. We are reiterating our annual guidance at this time, but we believe that continuing to execute at above plan levels will provide upside and future growth opportunities beyond our initial 2015 guidance." concluded Im.

For earnings history and earnings-related data on Performant Financial (PFMT) click here.

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