Paycom Software Q1 Profit Declines - Quick Facts

(RTTNews) - Paycom Software, Inc. (PAYC) reported first-quarter net income attributable to the company of $1.1 million or $0.02 per share, compared to $2.6 million or $0.05 per share for the year-ago quarter.

Pro forma net income for the latest first quarter declined to $1.1 million or $0.02 per share from $2.1 million or $0.04 per share in the comparable quarter last year. On average, three analysts polled by Thomson Reuters expected the company to earn $0.04 per share. Analysts' estimates typically exclude special items.

Revenues for the first quarter grew 34.1% to $36.99 million from $27.58 million in the comparable quarter last year, while three analysts expected revenue of $36.39 million for the first quarter.

Looking forward to the second quarter, the company expects revenue in the range of $31.0 million to $32.0 million. Analysts currently expect the company to report revenue of $31.28 million for the second quarter.

For fiscal 2014, the company expects revenue in the range of $139.0 million to $142.0 million. Analysts now expect revenue of $141.26 million.