Purple Innovation: Q4 Earnings Snapshot

LEHI, Utah (AP) _ Purple Innovation, Inc. (PRPL) on Thursday reported a loss of $2 million in its fourth quarter.

On a per-share basis, the Lehi, Utah-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, came to 7 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The company posted revenue of $173.9 million in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $196.4 million.

For the year, the company reported net income of $3.8 million, or 8 cents per share, swinging to a profit in the period. Revenue was reported as $648.5 million.

For the current quarter ending in April, Purple Innovation said it expects revenue in the range of $160 million to $170 million.

The company expects full-year revenue in the range of $840 million to $880 million.

Purple Innovation shares have increased nearly 10% since the beginning of the year. The stock has more than doubled in the last 12 months.

_____

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