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Envestnet issues Q1, FY'18 guidance

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Envestnet issues Q1, FY'18 guidance

Envestnet Inc. has provided its financial outlook for the first quarter and full year of 2018 and reported its financial results for the fourth quarter and full year of 2017.

The company expects adjusted revenues for the first quarter to be in the range of $192.0 million to $195.0 million. Adjusted EBITDA is projected to be between $30.5 million and $31.5 million, and adjusted net income per share is estimated at 36 cents.

For 2018, adjusted revenues are expected to be in the range of $808.0 million to $823.0 million. Adjusted EBITDA is projected to be between $151.0 million and $155.0 million. Adjusted net income per share is expected to be between $1.78 and $1.83.

The S&P Capital IQ consensus normalized EPS estimate for 2018 is $1.82.

Envestnet also reported fourth-quarter 2017 net income attributable to the company of $17.6 million, or 38 cents per share, compared with a net loss attributable to the company of $32.6 million, or a loss of 75 cents per share, in the year-ago period. Adjusted net income for the quarter was $18.7 million, or 40 cents per share, versus $14.2 million, or 32 cents per share, in the prior-year period.

The S&P Capital IQ consensus normalized EPS estimate for the fourth quarter of 2017 was 39 cents.

For full year 2017, net loss attributable to the company was $3.3 million, or 8 cents per share, compared with a net loss attributable to the company of $55.6 million, or $1.30 per share, in 2016. Adjusted net income for 2017 was $60.6 million, or $1.31 per share, versus $43.6 million, or 98 cents per share, in 2016.

The S&P Capital IQ consensus normalized EPS estimate for 2017 was $1.30.