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Inovalon Holdings: 3Q Earnings Snapshot

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BOWIE, Md. (AP) _ Inovalon Holdings Inc. (INOV) on Wednesday reported third-quarter profit of $800,000.

The Bowie, Maryland-based company said it had profit of 1 cent per share. Earnings, adjusted for one-time gains and costs, were 16 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 16 cents per share.

The health technology company posted revenue of $161.4 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $179.3 million.

For the current quarter ending in December, Inovalon Holdings expects its per-share earnings to range from 16 cents to 20 cents.

The company said it expects revenue in the range of $179 million to $190 million for the fiscal fourth quarter.

Inovalon Holdings expects full-year earnings in the range of 57 cents to 61 cents per share, with revenue ranging from $657 million to $668 million.

Inovalon Holdings shares have risen 31% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.69, a climb of 73% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INOV at https://www.zacks.com/ap/INOV