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Last $43.82 USD
Change Today +0.23 / 0.53%
Volume 22.7K
WAGE On Other Exchanges
Symbol
Exchange
Berlin
As of 10:44 AM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

wageworks inc (WAGE) Key Developments

WageWorks Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

WageWorks announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the first quarter, WageWorks reported total revenue of $85.3 million, compared to $62.6 million for the first quarter of 2014, an increase of 36%. Healthcare revenue was $47.3 million, compared to $40.0 million for the first quarter of 2014, an increase of 18%. Commuter revenue was $15.9 million, compared to $16.0 million for the first quarter of 2014. COBRA revenue was $12.6 million, compared to $4.0 million for the first quarter of 2014, an increase of 211%. Other revenue was $9.5 million, compared to $2.6 million for the first quarter of 2014, an increase of 273%. GAAP operating income was $9.7 million for the first quarter of 2015, compared to GAAP operating income of $10.9 million for the first quarter of 2014. On a non-GAAP basis, first quarter of 2015 operating income was $18.0 million, compared to non-GAAP operating income of $15.2 million for the first quarter of 2014. GAAP net income was $5.6 million, or $0.15 per diluted share, for the first quarter of 2015, compared to GAAP net income of $6.4 million, or $0.18 per diluted share, for the first quarter of 2014. On a non-GAAP net income basis, first quarter of 2015 net income was $10.5 million, or $0.29 per diluted share, compared to non-GAAP net income of $9.0 million, or $0.25 per diluted share, for the first quarter of 2014. Non-GAAP net income for the first quarter of 2014 and 2015 excludes expenses related to stock-based compensation, amortization of acquired intangibles, contingent consideration expense and the related tax impact of these items. Non-GAAP adjusted EBITDA was $22.0 million for the first quarter of 2015, a 21% increase compared to non-GAAP adjusted EBITDA of $18.1 million for the first quarter of 2014. Income before income taxes was $9,158,000 against $10,662,000 a year ago. Net cash provided by operating activities was $38,030,000 against net cash used in operating activities of $10,795,000 a year ago. Purchases of property and equipment were $5,972,000 against $3,233,000 a year ago. Non-GAAP income from operations was $18.0 million against $15.2 million a year ago. Non-GAAP net income was $10.5 million or $9.0 per diluted share against $10.5 million or $0.29 per diluted share a year ago.

WageWorks, Inc. to Report Q1, 2015 Results on May 05, 2015

WageWorks, Inc. announced that they will report Q1, 2015 results After-Market on May 05, 2015

WageWorks, Inc., Q1 2015 Earnings Call, May 05, 2015

WageWorks, Inc., Q1 2015 Earnings Call, May 05, 2015

WageWorks, Inc., Annual General Meeting, May 06, 2015

WageWorks, Inc., Annual General Meeting, May 06, 2015., at 15:00 Pacific Standard Time. Location: 1100 Park Place, Fourth Floor. Agenda: To elect the three Class III directors to serve for a term of three years or until their respective successors are duly elected and qualified; to conduct a non-binding advisory vote on executive compensation; to conduct a non-binding advisory vote on the frequency of holding an advisory stockholder vote on executive compensation; and to consider ratification of the appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2015.

WageWorks, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015

WageWorks, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $78,457,000 compared to $55,031,000 a year ago. Income from operations was $5,674,000 compared to $7,855,000 a year ago. Income before income taxes was $5,080,000 compared to $7,798,000 a year ago. Net income was $3,098,000 or $0.08 diluted per share compared to $5,320,000 or $0.15 basic and diluted per share a year ago. Non-GAAP income from operations was $14.3 million compared to $10.4 million a year ago. Non-GAAP net income was $8.3 million or $0.23 diluted per share compared to $6.2 million or $0.17 diluted per share a year ago. Adjusted EBITDA was $18.1 million compared to $13.5 million a year ago. For the year, the company reported total revenues of $267,832,000 compared to $219,278,000 a year ago. Income from operations was $31,049,000 compared to $31,976,000 a year ago. Income before income taxes was $30,185,000 compared to $30,902,000 a year ago. Net income was $18,242,000 or $0.50 diluted per share compared to $21,699,000 or $0.62 diluted per share a year ago. Net cash provided by operating activities was $54,423,000 compared to $61,705,000 a year ago. This decrease in cash from operating activities is largely the result of timing related to the collection of accounts receivable in the fourth quarter of 2014 as compared to 2013. Purchases of property and equipment were $21,200,000 compared to $13,832,000 a year ago. Non-GAAP income from operations was $57.8 million compared to $44.9 million a year ago. Non-GAAP net income was $34.2 million or $0.94 diluted per share compared to $26.3 million or $0.94 diluted per share a year ago. Adjusted EBITDA was $71.7 million compared to $56.5 million a year ago. The company provided earnings guidance for the first quarter and full year of 2015. For the first quarter of 2015, the company expects total revenue to be in the range of $82.5 million to $83.5 million, GAAP net income per diluted share of $0.14 to $0.15 and non-GAAP net income per diluted share of $0.27 to $0.28. GAAP and non-GAAP net income per diluted share assume a tax rate of 40% and weighted average shares outstanding of approximately 36.6 million. Non-GAAP adjusted EBITDA is expected to be in the range of $21.2 million to $21.8 million. For the full year of 2015, the company expects total revenue to be in the range of $331 million to $335 million. GAAP net income per diluted share is expected to be in the range of $0.60 to $0.65. Non-GAAP net income per diluted share is expected to be in the range of $1.12 to $1.17. GAAP and non-GAAP net income per diluted share assume a tax rate of 40% and weighted average shares outstanding of approximately 36.9 million. Non-GAAP adjusted EBITDA is now expected to be in the range of $87.5 million to $90.5 million. Gross margin is expected to be in the range of 63% to 67%. Operating margin is expected to be in the range of 13% to 18%.

 

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Industry Analysis

WAGE

Industry Average

Valuation WAGE Industry Range
Price/Earnings 89.6x
Price/Sales 5.2x
Price/Book 5.2x
Price/Cash Flow 34.4x
TEV/Sales 3.4x
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