Paylocity reports 4th-quarter loss but tops expectations

MarketsAssociated Press

ARLINGTON HEIGHTS, Ill. (AP) — Paylocity Holding Corp. (PCTY) on Thursday reported a loss of $4.4 million in its fiscal fourth quarter.

The Arlington Heights, Illinois-based company said it had a loss of 9 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 3 cents per share.

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The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The provider of cloud-based payroll and human-resources software services posted revenue of $40 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $38 million.

For the year, the company reported that its loss widened to $14 million, or 28 cents per share. Revenue was reported as $152.7 million.

For the current quarter ending in October, Paylocity expects its results to range from a loss of 9 cents per share to a loss of 7 cents per share.

The company said it expects revenue in the range of $41 million to $42 million for the fiscal first quarter.

Paylocity expects full-year results to range from a loss of 8 cents per share to a loss of 4 cents per share, with revenue ranging from $199 million to $203 million.

Paylocity shares have risen 42 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.08, an increase of 64 percent in the last 12 months.

This version corrects the spelling of Heights in the dateline and second paragraph.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCTY at http://www.zacks.com/ap/PCTY

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Keywords: Paylocity, Earnings Report