Shares of TriNet Group tumbled Wednesday, after the provider of human-resources services late Tuesday reported Q4 adjusted earnings below the Street consensus estimate despite higher-than-expected revenue.
Net income for the quarter was $7.0 million, or $0.10 per diluted share, compared with $6.0 million, or $0.11 per share, in Q4 2013. The per-share comparison was heavily skewed as the number of shares outstanding more than quadrupled.
On an adjusted basis, net income was $0.26 per share, up from $0.24 per share in the prior-year period but still short of the $0.37 per share Street estimate according to Capital IQ.
Total revenue was $603.7 million, up from $481.7 million reported for the same period last year and higher than the $573.4 million Street estimate. For 2015, the company expects to achieve net service revenue growth in excess of 15%. TNET was down 17% recently at $31.32, in a 52-week range of $17.28 to $38.00.
