Financial Engines (FNGN) Misses Q3 EPS by 1c, Issues Mixed Outlook; CEO to Step Down

Financial Engines (NASDAQ: FNGN) reported Q3 EPS of $0.23, $0.01 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $72.8 million versus the consensus estimate of $71.8 million.

Financial Engines sees FY2014 revenue of $279-281 million, versus the consensus of $280.59 million.

Financial Engines sees FY2015 revenue of $309-315 million, versus prior guidance of $330.93 million.

Financial Engines also announced the appointment of Lawrence M. Raffone, age 51, as chief executive officer, effective January 1, 2015. Raffone, who currently serves as Financial Engines’ president, will succeed Jeffrey N. Maggioncalda, age 45, who has served in the role since the company’s founding in 1996. Maggioncalda will also step down from the Board of Directors on December 31, 2014, but will continue to serve as an advisor to the company under Raffone’s direction during 2015. Raffone will join the Board of Directors on January 1, 2015.

For earnings history and earnings-related data on Financial Engines (FNGN) click here.

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