Exhibit 99.1

WageWorks Reports Fourth Quarter and Full Year 2013 Financial Results

  • Fourth Quarter 2013 total revenue of $55.0 million, an 18 percent increase year-over-year
  • Full year 2013 total revenue of $219.3 million, a 24 percent increase year-over-year
  • Fourth quarter 2013 GAAP net income of $5.3 million or $0.15 per diluted share. Non-GAAP net income per diluted share of $0.17
  • Full year 2013 GAAP net income of $21.7 million or $0.62 per diluted share. Non-GAAP net income per diluted share of $0.74
  • Fourth quarter 2013 non-GAAP adjusted EBITDA of $13.5 million, a 30 percent increase year-over-year
  • Full year 2013 non-GAAP adjusted EBITDA of $56.5 million, a 36 percent increase year-over-year

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.


The following information was filed by Wageworks, Inc. (WAGE) on Thursday, February 20, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Wageworks, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

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..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our 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

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our 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

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account