Priority Technology Expects Full-year Revenue To Improve Better Than View; Stock Up - Update

(RTTNews) - (Adds Outlook, share movement)

Priority Technology Holdings, Inc. (PRTH) expects its annual revenue above the Street view. For the full year, the company expects revenue of $875 million to $890 million an improvement of 16 to 18 percent from last year.

On average, three analysts, polled by Thomson Reuters expect the company to generate revenue of $855.3 million, for the year. Analysts' estimates typically exclude special items.

Priority Technology projects annual adjusted EBITDA of $193 million to $198 million.

The outlook helped the stock move higher by 15.34 percent at $3.61 in the pre-market trade on the Nasdaq.

For the fourth quarter, Priority Technology revealed Loss that increased from last year. The quarterly results reflected dividends and accretions attributable to the preferred shareholders of $12.49 million versus $10.46 million last year.

The company's bottom line came in at -$12.598 million, or -$0.16 per share. This compares with -$11.777 million, or -$0.15 per share, in last year's fourth quarter.

The company's revenue for the quarter rose 12.2% to $199.279 million from $177.555 million last year.

Priority Technology Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): -$12.598 Mln. vs. -$11.777 Mln. last year. -EPS (Q4): -$0.16 vs. -$0.15 last year. -Revenue (Q4): $199.279 Mln vs. $177.555 Mln last year.