Financial Engines Profit Rises, Yet Misses Estimate; Lifts FY Revenue Guidance

(RTTNews) - Financial Engines Inc (FNGN), America's largest independent investment advisor, Tuesday reported first-quarter net earnings of $7.8 million or $0.15 per share compared with $6.2 million or $0.12 per share last year.

Excluding items, adjusted earnings for the quarter were $10.8 million or $0.20 per share compared with $7.9 million or $0.15 per share a year ago.

Revenues for the quarter were up 22% at $65.88 million compared with $53.87 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $67.28 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal year 2014, the company now expects revenues of $276 million to $281 million, up from prior guidance of $274 million to $279 million. Analysts expect revenues of $285.2 million.