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Performant Financial issues FY'18 guidance

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Performant Financial issues FY'18 guidance

Performant Financial Corp. has provided guidance for full year 2018 and reported financial results for the fourth quarter and full year of 2017.

For full year 2018, the company expects revenue of between $123 million and $150 million and adjusted EBITDA of between $2 million and $6 million.

Performant Financial reported fourth-quarter 2017 net income of $521,000, or 1 cent per share, compared with a net loss of $12.3 million, or a loss of 24 cents per share, in the year-ago quarter.

Adjusted net income for the quarter was $1.3 million, or 2 cents per share, compared with an adjusted net loss of $1.5 million, or a loss of 3 cents per share, in the fourth quarter of 2016.

For full year 2017, the company reported a net loss of $12.7 million, or a loss of 25 cents per share, versus a net loss of $11.5 million, or a loss of 23 cents per share, in 2016.

The adjusted net loss for the year was $7.5 million, or a loss of 15 cents per share, compared with adjusted net income of $4.1 million, or 8 cents per share, in 2016.