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Benefitfocus issues Q2 guidance, revises FY'16 outlook

Benefitfocus Inc.has issued guidance for the second quarter and revised its outlook for full year 2016.

For the second quarter, Benefitfocus expects total revenue tobe in the range of $56.5 million to $57.0 million. Non-GAAP net loss is expectedto be between $10.8 million and $11.3 million, or 37 cents per share and 39 centsper share, based on 29.3 million basic and diluted weighted average common sharesoutstanding.

Adjusted EBITDA for the second quarter is expected to be a lossof $5.5 million to $6.0 million.

The S&P Capital IQ consensus normalized estimate for thesecond quarter is a per-share loss of 39 cents.

For full year 2016, the company expects total revenue of $232.0million to $235.5 million. Non-GAAP net loss is expected to be in the range of $30.0million to $33.5 million, or $1.02 per share to $1.14 per share, based on 29.4 millionbasic and diluted weighted average common shares outstanding.

The company expects adjusted EBITDA to be a loss of $8.5 millionto $12.0 million.

The S&P Capital IQ consensus normalized estimate for 2016is a per-share loss of $1.18.

The company reported a first-quarter GAAP net loss of $13.4 million,or a loss of 46 cents per share, compared with a loss of $14.6 million, or 55 centsper share, in the year-ago period. Non-GAAP net loss for the period was $8.6 million,or a loss of 29 cents per share, compared with a non-GAAP net loss of $12.7 million,or 48 cents per share, in the previous-year quarter.

The S&P Capital IQ consensus normalized estimate for thefirst quarter was a per-share loss of 41 cents.