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Stock Alert: PaySign Rises On Higher Earnings

Shares of prepaid debit card payment solutions provider PaySign, Inc. (PAYS) are climbing more than 13% Friday morning after reporting full-year earnings results.

Net income for the full year ended December 31, 2019 increased to 7.5 million or $0.16 per share from $2.6 million or $0.06 per share last year. Excluding items, earnings of $0.19 met average estimate of 5 analysts polled by Thomson Reuters.

Revenue for the year increased 48% year-over-year to 34.7 million. The consensus estimate was at $36.24 million.

"With continued plasma and pharma strength, expansion into new industry verticals, and the launch of new products, the company expects to see continued revenue and earnings growth in 2020, and similar gross margins to 2019," stated Mark Attinger, Chief Financial Officer.

PAYS is currently trading at $4.56. It has traded in the range of $3.63- $18.67.

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