KING OF PRUSSIA, Pa. (AP) — KING OF PRUSSIA, Pa. (AP) — Vertex, Inc. (VERX) on Thursday reported a loss of $67.8 million in its fourth quarter.
On a per-share basis, the King Of Prussia, Pennsylvania-based company said it had a loss of 43 cents. Earnings, adjusted for one-time gains and costs, came to 15 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The company posted revenue of $178.5 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $176.6 million.
For the year, the company reported a loss of $52.7 million, or 34 cents per share. Revenue was reported as $666.8 million.
For the current quarter ending in March, Vertex said it expects revenue in the range of $175 million to $178 million.
The company expects full-year revenue in the range of $760 million to $768 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VERX at https://www.zacks.com/ap/VERX
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