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Planet Payment revises FY'16 EPS guidance

Planet PaymentInc. has updated its EPS guidancefor full year 2016.

The company now expects EPS to be between 15 cents and 17 cents,an increase from 14 cents to 16 cents. The updated guidance reflects the resultsof a modified Dutch auctiontender offer and the partial conversion of series A preferred stock.
The company reaffirmed the rest of its full-year guidance. It continues to expectnet revenue of $57.0 million to $59.2 million, net income of $8.6 million to $9.6million, and adjusted EBITDA of $14.1 million to $15.1 million.

Planet Payment reported first-quarter net income of $1.8 million,or 3 cents per common share, compared with $1.7 million, or 3 cents per common share,in the year-ago period.