Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


April 25, 2015 12:09 PM ET

Commercial Services and Supplies

Company Overview of Performant Financial Corporation

Company Overview

Performant Financial Corporation provides technology-enabled recovery and related analytics services in the United States. Its services help identify and recover delinquent or defaulted assets and improper payments for government and private clients in various markets. The company offers recovery services primarily to the government-supported student loan industry, including the Department of Education and various guaranty agencies, as well as private financial institutions; and audit and recovery services to identify improper healthcare payments for public and private healthcare markets. It also provides tax recovery services to state and municipal agencies, as well as financial institution...

333 North Canyons Parkway

Suite 100

Livermore, CA 94551

United States

Founded in 1976

1,484 Employees

Phone:

925-960-4800

Key Executives for Performant Financial Corporation

Chairwoman and Chief Executive Officer
Age: 49
Total Annual Compensation: $403.1K
Chief Financial Officer and Secretary
Age: 56
Total Annual Compensation: $320.0K
Chief Operating Officer
Age: 56
Total Annual Compensation: $352.7K
Compensation as of Fiscal Year 2014.

Performant Financial Corporation Key Developments

Performant Financial Corporation Wins Recovery Audit Contract

Performant Financial Corporation announced it was awarded a recovery audit contract based on a competitive selection process by Cambia Health Solutions. The contract scope includes auditing durable medical equipment (DME), home health and hospice (HH/H) and home infusion claims - and was awarded to Performant based on the company's demonstrated DME auditing experience, effectiveness and reporting capabilities.

Performant Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Revenue Guidance for the Year 2015

Performant Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues were $39.7 million, representing a year-over-year decrease of 33.8%. Net loss was $2.4 million, resulting in a net loss per diluted share of $0.05, compared to net income of $7.9 million, or $0.16 per diluted share, in the prior year period. Adjusted EBITDA was $4.9 million, compared to $19.4 million in the prior year period. Adjusted net loss was $0.2 million, or $0.00 per diluted share, compared to adjusted net income of $9.1 million and $0.18 per diluted share, respectively, in the prior year period. Loss from operations was $874,000 compared to income from operations of $15,799,000 for the same period a year ago. Loss before provision for income taxes was $3,279,000 compared to income before provision for income taxes of $12,988,000 for the same period a year ago. For the full year, the company reported revenues were $195.4 million, representing a year-over-year decrease of 23.5%. Net income was $9.4 million, resulting in net income per diluted share of $0.19, compared to net income of $36.3 million, or $0.74 per diluted share, in the prior year period. Adjusted EBITDA was $44.7 million, compared to $89.4 million in the prior year period. Adjusted net income was $15.3 million, or $0.31 per diluted share, compared to $42.8 million and $0.87 per diluted share, respectively, in the prior year period. Income from operations was $27,269,000 compared to $72,869,000 for the same period a year ago. Income before provision for income taxes was $17,099,000 compared to $61,306,000 for the same period a year ago. Net cash provided by operating activities was $27,866,000 compared to $61,206,000 for the same period a year ago. Purchase of property, equipment, and leasehold improvements was $10,146,000 compared to $12,503,000 for the same period a year ago. As of December 31, 2014, cash and cash equivalents were $80.3 million and total outstanding debt was $111.8 million. The sequential decrease in outstanding debt reflects continued payments on long-term debt. The company expects 2015 full year revenue to be in the range of $150 million to $160 million and adjusted EBITDA to be between $20 million and $22 million.

Performant Financial Corporation Presents at Credit Suisse 17th Annual Global Services Conference, Mar-11-2015 03:25 PM

Performant Financial Corporation Presents at Credit Suisse 17th Annual Global Services Conference, Mar-11-2015 03:25 PM. Venue: Credit Suisse One Madison Avenue, enter on Park or Madison between 23rd and 24th Streets, New York, NY 10010, United States. Speakers: Hakan L. Orvell, Chief Financial Officer, Principal Accounting Officer and Secretary, Lisa C. Im, Chairwoman and Chief Executive Officer.

Similar Private Companies By Industry

Company Name Region
Aegis Protective Services United States
Green Shred, LLC United States
Duquesne Litho, Inc. United States
Howard Press, Inc. United States
ENCO Utility Services, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 28, 2015
Premier Healthcare Exchange, Inc.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Performant Financial Corporation, please visit www.performantcorp.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.