Shares of Insperity, Inc. (NSP), a human resources and business performance solutions provider, are down more than 15% Tuesday morning after the company lowered its full-year earnings outlook.
For the full year, Insperity now sees adjusted EPS in the range of 4.35-$5.32, down from the previous outlook $5.62-$6.39. Analysts expect earnings of $5.97 for the year.
The company’s profit in the second quarter declined 61.6% to $12.89 million or $0.33 per share from $33.6 million or $0.87 per share in the same quarter a year ago.
Excluding one-time items, earnings were $3.30 per share, that beat the average estimate of analyst polled by Thomson-Reuters of $1.25 per share.
Revenue for the quarter, however, increased 10.7% to $1.585 billion from $1.432 billion last year. The consensus estimate was for $1.56 billion.
NSP, currently at $98.92, has traded in the range of $96.66 – $131.09 in the last 1 year.
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