OKLAHOMA CITY (AP) _ Paycom Software Inc. (PAYC) on Tuesday reported fourth-quarter net income of $31.4 million, after reporting a loss in the same period a year earlier.
The Oklahoma City-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, were 61 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The maker of human-resources and payroll software posted revenue of $150.3 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $143.9 million.
For the year, the company reported profit of $137.1 million, or $2.34 per share. Revenue was reported as $566.3 million.
For the current quarter ending in April, Paycom said it expects revenue in the range of $194 million to $196 million.
The company expects full-year revenue in the range of $710 million to $712 million.
Paycom shares have increased 28 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $156.93, a climb of 87 percent in the last 12 months.
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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 PAYC at https://www.zacks.com/ap/PAYC
