Blackhawk Network Holdings posts 4Q profit

PLEASANTON, Calif. (AP) _ Blackhawk Network Holdings Inc. (HAWK) on Wednesday reported fourth-quarter net income of $24.7 million.

The Pleasanton, California-based company said it had net income of 43 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The gift and prepaid card company posted revenue of $780.6 million in the period. Its adjusted revenue was $352 million, which also missed Street forecasts. Five analysts surveyed by Zacks expected $368.7 million.

For the year, the company reported profit of $4.7 million, or 8 cents per share. Revenue was reported as $889.3 million.

Blackhawk Network Holdings expects full-year earnings in the range of $1.56 to $1.70 per share, with revenue in the range of $1.03 billion to $1.14 billion.

Blackhawk Network Holdings shares have decreased nearly 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.35, dropping slightly 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 HAWK at https://www.zacks.com/ap/HAWK

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Keywords: Blackhawk Network Holdings, Earnings Report