Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1158863/000119312514072956/d658333d10k.htm
Exhibit 99.1
WageWorks Reports Fourth Quarter and Full Year 2013 Financial Results
SAN MATEO, Calif.--(BUSINESS WIRE)--February 20, 2014--WageWorks, Inc. (the “Company”) (NYSE: WAGE), a leader in administering Consumer-Directed Benefits (CDBs), which empower employees to save money on taxes while also providing corporate tax savings for employers, today announced the Company's financial results for its fourth quarter and fiscal year ended December 31, 2013.
“Both our fourth quarter and record annual results reflect the strength of our position in a growing market. In addition to improving our enrollment rates, we had an excellent new sales year and client renewal period, evidencing the success of our strategic investments in expanding our sales force and broker network, further developing channel partnerships, continuing portfolio purchases and increasing overall awareness of the value CDBs provide. Moreover, we are taking advantage of the opportunities presented by the rise in employer adoption of private exchanges and are excited about the potential impact of the Department of Treasury’s introduction of the carryover provision for Healthcare Flexible Spending Accounts late last year,” said Joe Jackson, Chief Executive Officer of WageWorks.
For the fourth quarter, WageWorks reported total revenue of $55.0 million, compared to $46.7 million for the fourth quarter of 2012, an increase of 18 percent. Healthcare revenue was $32.9 million, compared to $29.6 million for the fourth quarter of 2012, an increase of 11 percent. Commuter revenue was $15.2 million, compared to $13.5 million for the fourth quarter of 2012, an increase of 12 percent. Other revenue was $6.9 million, compared to $3.6 million for the fourth quarter of 2012, an increase of 93 percent.
GAAP operating income was $7.9 million for the fourth quarter of 2013, compared to GAAP operating income of $5.3 million for the fourth quarter of 2012. On a non-GAAP basis, fourth quarter of 2013 operating income was $10.4 million, compared to non-GAAP operating income of $7.7 million for the fourth quarter of 2012.
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Wageworks, Inc..
Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1158863/000119312514072956/d658333d10k.htm
Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.
ContinueRead positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.
ContinueRemove data columns and navigations in order to see much more filing content and tables in one view
ContinueRead both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q
ContinueExport Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis
ContinueGet one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports
Continue for FREEOur Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not
ContinueOur Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity
ContinueSee how over 70
Growth, Profitability and Financial Ratios perform over 10 Years