Vertex: Q3 Earnings Snapshot

Audio By Carbonatix

KING OF PRUSSIA, Pa. (AP) — KING OF PRUSSIA, Pa. (AP) — Vertex, Inc. (VERX) on Thursday reported a loss of $3.4 million in its third quarter.

The King Of Prussia, Pennsylvania-based company said it had a loss of 2 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 10 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The company posted revenue of $145 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $142 million.

For the current quarter ending in December, Vertex said it expects revenue in the range of $145 million to $147 million.

The company expects full-year revenue in the range of $562.5 million to $564.5 million.

_____

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