PRGX Global (PRGX) Misses Q2 EPS by 8c, Revenues Beat

PRGX Global (NASDAQ: PRGX) reported Q2 EPS of ($0.13), $0.08 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $42.1 million versus the consensus estimate of $39.69 million.

“We continued our strong performance in the second quarter, delivering our eighth straight quarter of year-over-year revenue and adjusted EBITDA growth. Revenue from continuing operations in the second quarter grew over 9% and adjusted EBITDA from continuing operations grew over 17%. Also noteworthy in the second quarter was year-over-year revenue growth of over 47% in Adjacent Services. We are pleased with our second quarter results, achieving growth in every service line and in each region,” said Ron Stewart, president and chief executive officer.

“Our new business pipeline is strong and growing, providing continued momentum into the back half of 2018. Since the beginning of the year we have added more than 20 new clients and secured more than 25 service expansions in existing clients. Given our strong performance in the first half of the year and positive outlook for the remainder of the year, we remain on track to meet our 2018 guidance of year-over-year revenue growth in the range of 8% to 10% and adjusted EBITDA growth in the range of 17% to 22%," concluded Stewart.

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

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