KING OF PRUSSIA, Pa. (AP) — KING OF PRUSSIA, Pa. (AP) — Vertex, Inc. (VERX) on Thursday reported fourth-quarter net income of $15.3 million.
The King Of Prussia, Pennsylvania-based company said it had profit of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The company posted revenue of $154.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $146.4 million.
For the year, the company reported a loss of $13.1 million, or 9 cents per share. Revenue was reported as $572.4 million.
For the current quarter ending in March, Vertex said it expects revenue in the range of $152 million to $156 million.
The company expects full-year revenue in the range of $650 million to $660 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