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Benefitfocus discloses Q3 earnings outlook

Benefitfocus Inc. expects to record a non-GAAP net loss in the range of $5 million to $4 million, or 16 cents to 13 cents per share, in the third quarter.

Adjusted EBITDA for the third quarter is expected to be between $1 million and $2 million. Total revenues are projected to be between $61.5 million and $62.5 million.

The S&P Capital IQ consensus normalized estimate calls for a loss of 8 cents per share.

For the full year, the company expects a non-GAAP net loss of $10.5 million to $7.5 million, or 34 cents per share to 24 cents per share. Adjusted EBITDA is expected to be between $14.0 million and $17.0 million. Total revenue for the year is projected to be $255.0 million to $258.0 million.

The S&P Capital IQ consensus normalized estimate calls for a loss of 32 cents per share.

Previously, the company expected a non-GAAP net loss of $7.5 million to $11.5 million, or 24 cents per share to 37 cents per share. Adjusted EBITDA was expected to be between $13.0 million and $17.0 million. Total revenue for the year was projected to be $263.5 million to $268.5 million.

Benefitfocus posted a GAAP second-quarter net loss of $4.5 million, or 14 cents per share, versus a loss of $11 million, or 37 cents per share, in the year-ago period. The non-GAAP net loss for the quarter was $1.5 million, or 5 cents per share, compared with a loss of $6.5 million, or 22 cents per share, a year ago.

The S&P Capital IQ consensus normalized estimate called for a loss of 14 cents per share.