By RTT News,
August 14, 2014, 07:50:00 PM EDT
(RTTNews.com) - Cloud-based payroll solutions provider Paylocity Holding Corp ( PCTY ), Thursday reported a wider loss for the fourth quarter, hurt by expenses
Moving forward, Paylocity expects losses for both the first-quarter and the full year to be wider than estimated, while revenue projections were strong.
Paylocity shares dropped 4.6 percent in after-hours trade on the Nasdaq.
Paylocity, which went public in March, provides cloud-based payroll and human capital management software solutions for medium-sized organizations.
The Arlington Heights, Illinois-based company posted quarterly net loss to stockholders of $6.7 million or $0.14 per share. This compares with a loss of $0.4 million last year.
Excluding items, adjusted loss for the quarter was $0.05 per share. On average, seven analysts polled by Thomson Reuters expected a loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter climbed 41 percent year-over-year to $28.6 million. Analysts expected revenue of $26.7 million for the quarter.
The company ended the quarter with 8,500 clients, a 24 percent increase from last year.
For the first quarter, Paylocity projects adjusted loss of $0.10 to $0.08 per share and revenue of $29 million to $30 million. Analysts currently expect a loss of $0.04 per share on revenue of $28.6 million.
For fiscal year 2015, Paylocity expects adjusted loss of $0.16 to $0.12 per share and revenue of $139 million to $143 million. Analysts currently expect a loss of $0.12 per share on revenue of $134 million.
Paylocity stock closed Thursday at $22.17, down $0.42 or 1.86%, on a volume of 86k shares.
For comments and feedback: contact firstname.lastname@example.org