Performant Financial Corp. (PFMT), a provider of technology-enabled recovery and related analytics services, Tuesday said it expects fourth-quarter net income in the range of $5.5 million to $6.8 million.
The company said its net income forecast reflects increased operating expenses consistent with the growth of recovery activities in the healthcare market and the temporary delayed recognition of certain revenues associated with Periodic Interim Payment Providers claims.
Adjusted net income is estimated to be $6.7 million to $8.0 million.
On average, 7 analysts polled by Thomson Reuters expect earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues are estimated in the range of $53.5 million to $56.5 million. According to the company, the sequential increase in revenues is primarily due to higher claim recovery volumes in the healthcare market. Wall Street looks for revenues of $53.69 million.
The company is slated to release its quarterly results on February 28.
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