Blackhawk Network Holdings Profit Rises, Misses View; Shares Plunge

(RTTNews) - Blackhawk Network Holdings, Inc. (HAWK), a prepaid gift cards and payment service business, Wednesday reported fourth-quarter net income of $49.3 million or $0.92 per share, up from $36.3 million or $0.70 per share last year.

Adjusted earnings for the quarter were $0.81 compared to $0.72 per share last year. On average, 12 analysts polled by Thomson Reuters expected earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude one-time items.

Total operating revenues for the quarter rose to $521.2 million from $452.9 million last year. Analysts estimate revenues of $539.15 million for the quarter.

Shares of the company plunged about 13 percent in after-hours trading.