logo
Plus   Neg
Share
Email

Black Knight Q4 Profit Down; To Buy Back Up To 10 Mln Shares

Black Knight Inc. (BKI), a provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, reported that its net earnings for the fourth quarter of 2019 decreased 70% to $12.9 million from $42.8 million in the prior year quarter. Earnings per share decreased 69% to $0.09 from $0.29 last year.

The effect of indirect investment in the Dun and Bradstreet was a reduction of net earnings of $36.1 million, or $0.24 per share, primarily due to the effect of their purchase accounting adjustments, restructuring charges and other non-operating charges.

Adjusted earnings per share for the fourth quarter of 2019 increased 8% to $0.54 per diluted share compared to $0.50 per diluted share in the prior year quarter.

Revenues for the fourth quarter of 2019 increased 5% to $300.1 million from $285.4 million in the prior year quarter. Adjusted revenues for the fourth quarter increased 5% to $300.2 million from $285.6 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share and revenues of $301.56 million. Analysts' estimates typically exclude special items.

For 2020, the company expects adjusted earnings per share to be in the range of $1.97 to $2.06; revenues and adjusted revenues of $1.190 billion to $1.214 billion. Wall Street currently is looking for fiscal year 2020 earnings of $2.03 per share on annual revenues of $1.21 billion.

Black Knight said that its board authorized a three-year share repurchase program, effective February 12, 2020, under which the company may repurchase up to 10 million shares.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Marriott International announced a security data breach at its property system that hit up to approximately 5.2 million guests. The breached information is believed to exclude Marriott Bonvoy account passwords or PINs, payment card information, passport information, national IDs, or driver's license numbers. The latest incident, however, is less severe compared to the hotel chain's 2018 data breac The U.S. Food and Drug Administration granted approval for Coagulation Factor VIIa (Recombinant) to biopharmaceutical company LFB S.A. for the treatment and control of bleeding episodes occurring in adults and adolescents - 12 years of age and older- with hemophilia A or B with inhibitors. It is marketed as Sevenfact by LFB. Chipotle Mexican Grill, Inc. is giving away 100,000 burritos to healthcare workers, who are at present fighting in the front line against coronavirus or Covid-19 pandemic. The food chain has asked healthcare teams to submit their application by Thursday, April 2, which is this year's National Burrito day. The offer is valid for a free preconfigured Burritos by the Box order of 25 burritos.
RELATED NEWS
Follow RTT
>