PRGX Global (PRGX) Tops Q4 EPS by 12c, Beats on Revenues

PRGX Global (NASDAQ: PRGX) reported Q4 EPS of $0.26, $0.12 better than the analyst estimate of $0.14. Revenue for the quarter came in at $47.07 million versus the consensus estimate of $45.31 million.

Consolidated Results from Continuing Operations for the Three Months Ended December 31, 2017

• Consolidated revenue from continuing operations for the fourth quarter of 2017 was $47.1 million, compared to $39.2 million for the same period last year, an increase of 20.2%. Fourth quarter 2017 revenue from the Recovery Audit Services segments was $46.4 million compared to $38.1 million in the prior year, and from the Adjacent Services segment was $0.7 million compared to $1.1 million in 2016. On a constant dollar basis adjusted for changes in foreign exchange rates, revenue increased by 17.0% in the fourth quarter of 2017, compared to the same period in the prior year. On a constant dollar basis, revenue from the Recovery Audit Services segments increased 18.7% in the fourth quarter of 2017 compared to the same period in 2016.
• Total cost of revenue from continuing operations for the fourth quarter of 2017 was $26.7 million, or 56.8% of revenue, compared to $23.9 million, or 60.9% of revenue, in the same period last year, representing a 4.1 % improvement as a percentage of revenue.
• SG&A expenses from continuing operations for the fourth quarter of 2017 were $12.8 million, compared to $11.0 million in the prior year period. The increase in SG&A expenses was primarily attributable to operating costs associated with the Cost & Compliance Associates (“C&CA”) acquired business that was not in the prior year and incentive-based compensation expense.
• Consolidated net income from continuing operations for the fourth quarter of 2017 was $5.7 million, or $0.26 per basic and diluted share, compared to net income of $0.2 million, or $0.01 per basic and diluted share, for the same period in 2016.

For earnings history and earnings-related data on PRGX Global (PRGX) click here.

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