HealthEquity Q3 Profit Tops Estimate; Boosts FY15 Outlook

(RTTNews) - HealthEquity, Inc. (HQY) reported net income attributable to common shareholders of $3.0 million or $0.05 per share for the third quarter, compared to $1.2 million or $0.04 per share for the year-ago quarter.

Excluding items, adjusted EPS for the third quarter was $0.05, compared to $0.05 in the prior year quarter.

Revenue for the third quarter rose 43% to $21.9 million from $15.2 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.04 per share on revenue of $21.03 million for the third quarter. Analysts' estimates typically exclude special items.

For fiscal year 2015, the company now forecasts revenue to be between $85.0 million and $87.0 million and adjusted earnings to be $0.19 to $0.21 per share. Previously, 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 $84.62 million for the fiscal year 2015.

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